Computers gone wild!
tonight’s action in gold is an example of how the computers can FLASH
CRASH any commodity, any bond or any stock at any given time.
far as I can tell, it’s all because the Bernank kinda said he doesn’t
have any QE3 plans right now….that’s why I sold my HL as quick as I
could, but I did not have time to unload my PPP before the market
closed–I was away from the office and could only make one trade on my
smartphone app before the close (DRD I sold a couple days ago for a nice
CEF I never sell….always hold that one.
I think it’s temporary….reading thru Jim Rickard’s work with Currency
Wars….he is an esteemed economist who values gold somewhere between
$3400 and $12,000 based on what monetary base is used (M1 and M2 as
examples) and what percentage base is in gold once the dollar returns to
the Gold Standard.
We are not anywhere near those TRUE
Valuations…again, this is only a “talk it down” game by the
Bernank….and he is a master of talking things down or up everytime his
lips move….between him and CNBS, all they ever have to do is say
something that scares markets….no one ever actually does anything any
more…it’s all come down to innuendo!
BUT DON’T BE SWAYED BY
SHORT-TERM manipulations….on the other hand, if one is only trading
some PM stocks, then wise to grab some profits when possible….that’s
one reason I instantly sold HL earlier today once I heard the Bernank’s
Actually, Gold’s price has already rallied back $30 from its low of the evening! Ahhhh, you gotta love them computers!