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FWIW here is the hit we knew was coming on OPX week. I doubt anyone thinks this is natural trading.
Gold got hit as Bernanke opened his mouth before congress today (as usual). OPX is next week.
What does Trader Rog think now?
HAY! I love Trader Rog…..and this is gonna shake out just fine.
I think Rog is biting his nails because his gold portfolio is destroyed. That is assuming he walks his own talk and invests on the advice he dispenses to others. No way he made money on those past calls….he was warned though.
As I suggested earlier go to http://www.tradertracks.com
I always find Pete to be very accurate in his gold forecasting, and I always like to hear his opinion more than almost anyone else. DT
NON EVENT………When Ben’s lips move……the Dow should have gone up…..but, nothing happened………the summer heat wave…..maybe, everyone is at the beach.
Hopefully with at least a sixer (or should I say “eighter”) of Guinness.
Common folks, let’s be serious but not nasty with eachother!
Grandich may wear his heart on his sleeve but you always get an opinion without all the double talk most others qualify theirs with.
And that is why he is such a good friend of mine!
Grandich is bang on about how Comex sells off a lot once physical market closes worldwide. I also think we need to get above $1,300 very soon to sustain recent rally.
If gold would get moving above 1300 to the 1350 area it could be good shorting opportunity in the miners.
I don’t know how this doesn’t qualify as insider trading.
The big houses routinely take down PMs on the London close, and then have their foreign subsidiaries (Hong Kong for starters) cover the their naked shorts via swaps and thus reap the profits created by tripping the sell tops of private investors–over and over again.
If the regulators aren’t going to regulate, why aren’t they disbanded, thereby reducing the cost of government to the taxpayers?
there are just so many games being played by different players on this. Mostly momentum. I am partially to fault on these takedowns, I used to play with puts but those became too expensive. I now use the ZSL GLL DUST complex to hedge. drawback is a) big dollars to be tied up and 2) if you go to sleep at wrong moment you wake up to see DUST go from 160 to 100 rather quickly.