Friday, June 18, 2010

GOLD EITHER SPIKED ON A LARGE BUY BY A HEDGE FUND OR SHORTS COVERED EARLY AFTER SEEING GOLD CLIMB STEADILY CLOSE TO THE ALL-TIME HIGH AND WANTED TO GET OUT OF THEIR SHORTS BEFORE THE CRIMEX OPEN

THE SPIKE DOESN'T MAKE MUCH SENSE AT THIS HOUR AS GOLD IS CONSISTENTLY SUPPRESSED DURING THE CRIMEX SESSION, BUT HEDGE FUNDS ALWAYS SEEM TO BUY IN AT THE WORST POSSIBLE PRICE. OVER 5000 CONTRACTS WERE TRADED IN TWO MINUTES , 4000 IN THE FIRST MINUTE WITH NO INDICATION IN OTHER MARKETS THAT SUCH A MOVE WAS COMING. EXPECT THE SMALL 'LEMMING' TRADERS TO JUMP INTO GOLD AT THE TOP, ONLY TO GET WIPED OUT AS GOLD PULLS BACK ON PROFIT TAKING

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