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Wow! Friday's turnover in December Comex Gold was amazing. How...

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timber1956

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03/11/14

05:23

Post #: 14225189
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Originally posted by timber1956 ↑

How will the market open tomorrow?

The obvious prediction is that after a weekend of soul searching, the market will gap down as the weak longs decide they have had enough and rush to get their money off the table.

But I am always suspicious of futures traders with cold nerves and deep pockets. Nothing would surprise me less that a sharp rally. The timing is perfect for such a trade. No one is expecting it, and there is sufficient fundamental justification for a run to look plausible. The free riding shorts will be swept up and have $20 an ounce taken from their wallets before they know what has hit them.

After that? Who knows.

These are just random thoughts. Do your own research.

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Wow!

Friday's turnover in December Comex Gold was amazing. How do you read it?
- Bear case: The downward movement is confirmed by volume.
- Bull case: There has been a clean out. Lots of stale positions have been cut. Mentally the traders are relatively free to buy.

Should I start publishing a daily Squeeze Report for December now, or should I wait for the gold bugs to ring the alarm bells?

Last edited by timber1956: 03/11/14
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Wow! Friday's turnover in December Comex Gold was amazing. How...

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