Gold at 650 - 01-26-2007

Quote from PohPoh:

Honestly,
you may want to average down when we blow through your average price in a few weeks...but we should see 550 or so methinks..
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Doesn't appear that 550 is on the cards any time soon!
 
Quote from Ivanovich:

Doesn't appear that 550 is on the cards any time soon!
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Not in the next 60 minutes no..
My time frame is 6-8 weeks..and I WILL buy the futures if it breaks a targeted level...
and I'm doing it very cheaply...$175/option is bubkis..
 
Ouch...so far so wrong...
Good thing I bought just above the swing high, and already sold out, so I have a free options trade now...
 
If my Dollar Bullish scenario holds, we should see DX hold 84.00 area...
Personal savings at the lowest level since 1929...
Fed should be hiking rates here but they are scared shitless...not a good sign...
 
Looks like gold might be testing the 610 level sooner than later. The doji star still working its magic so far unless gold closes above 670.
 
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