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???

Okay, is it finally making its move? Right off the low, as I said? One final 'retest' there was needed, and now they get it going? Or is this just one more little pop up that they hammer?

Let's see if they come back in here at 33.50-34.25. If so, I'm watching 37.50-38.00 and 40.25-40.75 next.

And they come in at that level like gangbusters.

First level hit that fast. Cool how I posted that pickup level before they hit it. In other words, in advance.

I'm sure glad no one has decided to make me rich buying my books for material that may or may not be of any use...

Notice, on a tick chart, the immediate reaction to the area I posted. Area to area. Now, I'm 'hoping' it blows this out and goes right to the next area. From there, hopefully up more. Can you tell which side of the market I am on? But, alas, this area has some hard core lines here, so that could be it. Now the market tells me. I don't tell it.

Also note that this could be a bearish EXP here. I don't see it, since it is down so far already and that is too small of a correction. If they really wanted to sell more it could play out, but more likely if it can't burst up it would just chop in the low end of this range here. I am expecting the burst up any second now...

And as if someone rang a bell, there's the burst up...

Second area hit. I think this is about to explode. This could be a 'ride until close' here. Watch this key area. It may cap this. If they can overcome it, watch out. This is it. No matter what happens, I'm quite thrilled to read a countertrend move on a big down day so well.

40.50 draws the reaction. But, like the last area, I think it will only be a tiny checkback, then the next leg starts. This is a key area, though, so I'm 'ready'.

Originally posted by jimkane

Let's see if they come back in here at 33.50-34.25. If so, I'm watching 37.50-38.00 and 40.25-40.75 next.

And, drum roll please... right into the after-market close they hit... wait for it... oh, the suspense... 54.75. How did he know this? How??? Get serious, how is this possible?

Originally posted by jimkane

Now 54 and change in the after-market???