Mixed Feelings

Today is interesting. Dull as hell, but interesting. Gold is up by just about everyone's standards (even CNBC's) but its barely doing anything meaningful whatsoever. As for the gold stocks, the volume is just not there. It's less than not there, it's less than pitiful even. This may be looked at as bad but on a day where gold itself is only up by a few measly dollars, I'm fairly encouraged. This could be a situation where the smart investors are already in, and are just not going to sell anymore, therefore leaving no action for them whatsoever today. The calm before the storm perhaps.

I'm encouraged to see the dollar fall off of its high from yesterday by $.50. A blip or so in the upwards direction might be all it has left. At this point it's best offense is a good defense. (ie: hold on to support levels for dear life cause otherwise, it's a long way down)

For you fibbonaci fans out there there could be an arguement that this will be the big retracement of up to 50% of our gain from the bottom at 865 to our top at about 989. That would be 124 dollar gain and a 62 dollar retracement at 50%. Bringing us to about 927. (Or perhaps 930? Another reason why I stick to the "gold will not fall below 930" argument.) This could very well be the case. An argument for only a 33% retracement is also quite valid, in which case we should already be in the process of turning now. Which one is right. Who knows even if either is right. If your trying to day trade right now, the best financial advisor I can recomened for you is God. If you get ahold of him be sure to let me know what he says. Other wise, I'm going to invest soley on what I know, and that is that gold will not fall below 930, and will rise to 1000 before the month is over. If your upset cause you haven't brought in any money for the last few days, what you make as a whole for this month will make up for it. Patience. It's
comming.

-J