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Hourly Action In Gold From Trader Dan

Dear CIGAs,

Last evening during the Asian session gold shot higher and peaked at a new yearly high. As trading in London opened early this AM, it began fading somewhat and as it came into New York, it appeared to run into a bout of selling keying off the stability in the Dollar. Note

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Hourly Action In Gold From Trader Dan

Dear CIGAs,

Gold charged higher last evening, exactly in the same fashion as it had done the previous evening and in a repeat performance from yesterday, held onto its gains in spite of the constant barrage of selling coming from Goldman and Morgan. The breach through overhead resistance near the 1012 – 1015 level

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In The News Today

Thought for Today:

The singular most important and least reported event today was the announcement of a settlement of the lawsuit brought by the Italian city against JP Morgan concerning OTC derivatives sold to that city.

Normally the defendant will say the suit was settled in order to save the large expenses of protracted

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Hourly Action in Gold From Trader Dan

In The News Today

Quote of the day:

“The dollar will continue to implode against commodities,” Faber said. “I don’t see why someone would hold dollars and not own gold. More and more people will come to the realization that they have to own some resources, some commodities, some mining companies and some physical precious metals.”

More…

Jim

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Jim’s Mailbox

Dear Jim,

I heard a couple of years ago from a very well placed retired Federal banking official that there were about 3,000 banks in the US on the government watch list that are in danger of failure if the economy or real estate fell into the abyss. Since then real estate has fallen

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Shorts Digging Deep In The Bag Of Dirty Tricks

Dear Extended Family,

When shorts get frantic to cover their aged non-performing short position they are now digging deep in the witch’s brew for dirty tricks.

The latest trick is "On the Index, Off the Index, On the Index – Off the Index."

As it pertains to Canadian metals shares there is a new

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In The News Today

Dear Extended Family,

I have made the mistake of returning calls from my home phone in the evening and on weekends.

Many of you captured this number, and apparently have put it on your contact phone list.

My home phone has been ringing off the hook all night.

This is a damn tough manipulative

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