Replies to post #115676 on Zeev's Turnips Patch-No Politics (ZEEV)

[KyrosL]

Wasn't the gold action just a knee jerk reaction to the fall in the dollar?

[otraque]

that was a huge move in XAU today, gives one the feeling SmartMoney anticipating we are approaching a blow-off top in equities.
Market near term froth is so intense leading into the Jobs Report tomorrow, and with 60min charts and Daily charts showing some room still to go for a blow-off top; barring a doomsday report tomorrow, we probably are not to equities highs yet.
Today's market action in view of more bad news this morning, makes it just plain scary that Greenspan's mouth still holds such power.
Cripes if this fellow had a fatal heart-attack, i think they would have to halt all trading world wide,and that is just plain bizarre. gd

[disco_queen]

At these prices I would sell if I had any gold. Where did the spot close today? Does anybody know? TIA.

[nspolar]

Actually George there is ample evidence it began shortly after the last correction, but it is leaving most everyone out. Classical I suppose.

Two key factors that has kept me heavily in have been the premium on the CEF fund, recently hit a very low number, and the asset level in the Rydex PM fund, the latter trend being more than very bullish.

A little premature to get too giddy, but a huge move could be developing.

[Zeev Hed]

Luckily, got some DROOY yesterday, but my OB's on RGLD and were too outrageous (RGLD was missed by about a quarter, zut allors...). I thought we would get a deeper retrenchment (I still think so...)

Zeev