reversal, page-11

Hi BDZ,,,I thought you were suspended for a year,,,got you out on parole ayy :)

Im not saying NCM is going to tank, i just think she is overvalued at this present time. I wasnt around for the last gold rally but since 693 to 1422, its been a wild ride.

NCM has been more than good to me and alot of other traders in this forum and in the market,,,at 18 she was a no brainer and she turned out to be my saviour with well well over 100PC return in a couple of years

Cant see a catalyst to pump her Monday, but the problem with this market is she is increasingly unpredictable

ADr down -2.26% Friday night
China after market close clamped down on banks again for the second time in two weeks lifting reserve requirements by 50BP, if the last fortnight is a guide, this will drain trillion on dollars from equity and commodities markets and will see Asian markets sell off Monday,,,agressive tightening
Gold price,,whilst rebounded has a potential cap,,,EU have assured Bond holders they will not take a haircut,,therefore there is no reason to buy gold at this time
DOW Jones was saved on Friday nights by GM under writers and short covering on GM shares
USD rebounded on obscure comments that Bernanke wants more Government stimulus and beleif that Ireland is saved and hence the Euro rebounded
Volumes in Gold are now falling and as a result of insane products freely availiable, 400:1 leverage and tight spreads, hot speculative money can reverse or pump a price....watch Monday or any given desk change over and you will see the insane moves of late..

Tank no, but consolidation yes imo,,,,,,

things to watch for this week is positioning ahead of options expiry Thursday.....

Depending on how much press the "australian Housing Bubble to burst" Im thinking now is the time to be cautious