Gold At 1533

Supposedly there are big sell-stops close under 1530; could get very very fugly.

Update: Pending home sales were expected to be unchanged to perhaps up 2% from last month.

Instead they fell by 5.5%

Recovery Summer!

Update The Second: She bounces! Gold hits 1530.40 low and has since bounced up to 1564.

6 Responses to “Gold At 1533”

1. aelfheld says:

   May 30, 2012 at 10:56 am

   Isn’t this the third in the Recovery Summer series?

2. Syd B. says:

   May 30, 2012 at 11:03 am

   Those that rely on Obama haven’t noticed any difference.

   When you takes The King’s shilling, you does The King’s bidding.

3. Yojimbo says:

   May 30, 2012 at 11:02 pm

   Where are the stops under my buggy whip futures?

4. Mr. Bingley says:

   May 31, 2012 at 7:13 am

   I’m very bearish on this year’s crop, Yojimbo.

5. Yojimbo says:

   May 31, 2012 at 9:45 am

   Maybe I should sell the rest of my position and place the proceeds in a Spanish bank or Greek sovereign debt. You just can’t be too careful these days.

6. Mr. Bingley says:

   May 31, 2012 at 10:39 am

   I’d say go Greek; they’ve been in debt for thousands of years. That kind of long-haul experience is priceless in times like these.