I'm starting this week's discussion.

My gut says it's done. But after three years of manipulation, I'm wary of that gut feel in situations like this.

Comes in to the .300 and dead on the key line, and up it goes. And that's why I don't trust the gut feel too much in this manipulation market. But it hasn't set a new high for the move yet, so I'm still watching this. It would be cool if it hit the next level I posted and then rolled over.

Understand, too, that very short-term intraday I am long side bias here. Short side into the low at key support (look on a 240-min at that big bullish flat ABCD), and then over to the long side bias upon the reaction. But it is at the first key area where, if it was going to continue down, it could resume that.

There's the new high for the move.

By one tick, and it snaps down. Very interesting, huh? Like I said, though, before, chop with an upward bias.

The old gut proved right...

Right off the .382, too.

Frickin' soybeans. Are they ever going to stop going up? If they take out that '11 high, then they are free to take a shot at the '08 bubble high. How incredible would that be? They used to talk about 'beans in the teens' and how it was an urban legend, a myth, it could never, ever actually happen. Now 'beans in the teens' may become another urban legend, on the downside. Could beans ever go down into the teens? Imagine it all you want, it could never, ever be they'll be saying... The times, they are a changing.

so, is gld really heading all the way down there?

Boy, I hope so, rat.

Please, everyone, read this post I did:

http://www.mypivots.com/board/topic/4050/-1/jims-economic-links#99179