So, although I see almost no chance (okay, perhaps one in a million) that this will open anything but up, and then rush up even more, I'm watching 1233-34 if this 1240-41 (Friday's low was 1242, close enough given that 40-41 is the center of the area, not the entire area) doesn't turn it. Like I said, though, it's Sunday night, so it should gap up and run, right?
One scenario is they bring it down a bit more, and then QE3 is announced, along with more Euro bailouts, and then we start Carl's march well into the 1300's, and then beyond. I think they will print until the collapse, as I've always said, and printing almost always leads to higher asset prices. (The value usually declines in reality, but the 'repricing' in devalued dollars has a higher number, like when Zimbabwe went into hyperinflation and in Zimbabwe dollar terms their stock market was the highest performing in the world (from a percentage standpoint)).
So, I think it is just a matter of does it go straight up from here, or do they bring it in a little first before all the additional intervention drives it higher. They may also bring it up a bit, and then down into the early AM, to get better prices, and then up tomorrow. I've mentioned that game in here frequently, too.
Got gold???
JI
jimkane
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Oink, oink, oink. Got'cha, you oinker. Got'cha.
"...the geometry doesn't care what these maniacs want. This is it. Decision time. Put up or shut up."
"...the geometry doesn't care what these maniacs want. This is it. Decision time. Put up or shut up."
JI
jimkane
Rep: 3,058
Posts: 33,089
Oink, oink, oink. Got'cha, you piggie.
Originally posted by jimkane
Oink, oink, oink. Got'cha, you oinker. Got'cha.
"...the geometry doesn't care what these maniacs want. This is it. Decision time. Put up or shut up."
JI
jimkane
Rep: 3,058
Posts: 33,089
Using caution here at this 59.75 low area, in case. If they want to come back in, they may do it in this area. Otherwise, this is a 'giving it room to breath' scenario for me, in case they last minute dump it into the close, or after cash. But all I care about is the geometry got them to stop gunning it up and come in a bit. The geometry prevailed, again.
JI
jimkane
Rep: 3,058
Posts: 33,089
Squeal, you piggie. Squeal like this is 'Deliverance'. SQUEAL! Sq-wheeeee. Sq-wheeeeeeeee.
JI
jimkane
Rep: 3,058
Posts: 33,089
I hope my joking isn't offending anyone. Partly I'm just having fun, and partly I'm making a point. I'm almost always making a point...
JI
jimkane
Rep: 3,058
Posts: 33,089
Ska-wheeeeeeeeeeeeeeeeeeeeeee. I can hear a banjo, pickin' in the background...
