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.
Isn’t this the third in the Recovery Summer series?
Those that rely on Obama haven’t noticed any difference.
When you takes The King’s shilling, you does The King’s bidding.
Where are the stops under my buggy whip futures?
I’m very bearish on this year’s crop, Yojimbo.
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.
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.