Hi Russ.Yup 1..2...3.. for GLD ( heh)## On another note,been following the Chartist-dude.I like his set-up.That ALSI day-trading is a workable idea.I'm studying his videos at the mo.Good stuff.You checked it out ? realchartist.com.
And she does a mighty High of R94.xx on a Ednesday mornin'....O Laddies,R95 will see us with resistance broken and then blue skies....R101.The Point and Figure Chart told me so.For all it knows is PRICE.
Gold sees the P&F Bullish Support Line(BSL) at $1300.THAT is a solid line since Sep2009.Gold Price ? $1340.So, another test of $1300 and Ka-zoom!Back to $1400 Resistance for the 4th time since Nov2010.So, 3 Strikes and...breakout next ? I've seen it before,a number of times. So,Gold is ready to do her thing.###The Rand? P&F BSL at 7.87 to the $. She's doing a technical bounce at the 200-ma.A bearish crossover of 20 below 50ma sees a negative bias to price-action(Sell at Resistance.).The ATR reading sees it at a place where the Rand is on a thin and final Support at 0.00098.Previous ATR top was Dec2010.Reading at .00098.Back in May-June 2010, the ATR screeched up to 0.00150...as that Rand sold off.= more short-term possibilities for Sell the Rand....as at.
F! its Ebruary already! But the CRB index does not agree with Baltic Dry. Must be new year somewhere. I have solved Ben's dilemma. He can buy anything he wants, so now he can buy the whole world and rent it out. Just put my $Trillion bonus in my offshore account. Ta. Yawn, I feel March coming on.
Yup....QE3 will be a debutante sometime in 2011.No choice there.Those OTC derivatives in the Shadow Mkt where $1000 Trillion is the basis of bets on an underlying Economy that spurts out a fraction of that in GDP.Go Ben! Bomb the Planet.Paper everywhere and not a thought to think.Now I know what a Lemming feels like it.The inevitable plunge cometh.Check out worldreports.org>>the late Christopher Story.His archives reveal a Master at his craft.He knew how things worked.I followed him from 2006 till 14 July 2010...R.I.P.
And the Headgames begin with Gold punching thru its 10-day line and tapping the 20-day above that.Shorts had to cover hard.And now it's a $50 rise to the ceiling at $1400.It won't take much.Ben Bernanke's coments today were the apparent 'catalyst'.Basically he admitted,tacitly, that QE3 is a dead cert.Gold liked that.