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:

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

  2. Syd B. says:

    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:

    Where are the stops under my buggy whip futures?

  4. Mr. Bingley says:

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

  5. Yojimbo says:

    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:

    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.

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