stops were jumped at 620 and 625.... the trade claimed it was all short covering...likley bullshyt..... the Iraq war seems to be expanding into the Iran-Iraq-Somalia-Syria-(fill in the blank) war curious that Goldman reweighted their commodity index to reflect lower crude and product weighting puts downward pressure on crude and upward pressure on Iran............. coincidence? there seems to be a string of coincidences in the commodity game GW to ask for $100 billion more for Iraqistan wars....rewire the printing press from 110v to 440v
there was also some fund buying coming in ... they are not stupid they might have gone long after covering shorts next week though could also be volatile on a few days but thats good for me if I remain humble and nimble
an opinion........ the Bush admin. is in such a hole that its pulling every string to keep this tinker toy war from turning into World (Religious) War III the current set of parameters is costing $175 million PER DAY..... with no end in sight...........
good point too and daddy-o - i liked your post. i see the dollar index coming into some sweet resistance and staring to turn down. could see some pounding on the usd next week. i am really excited about gold if it can break 650 area. im willing to take a real whack at it if/when it punches through that area caus e if it breaks that then 720 highs - could be a real nice move...
seems still wants south from 64.3 down to 58.5 into feb Nice buy there I think topping in march 66.5 area