Friday, September 11, 2009

MORE PAIN FOR SHORTS

Looks like they will keep the pressure on awhile longer.........shocking (sarcasm) :)....anyway have been scalping on LCC EDAP today.....not trading my goldminer core further here.....Remember to keep your eye on oil to push 75. You can play it here if you wish but I will wait for closer to 75. Some very sharp traders are getting uncomfortable with the market as I am so this should indicate the late september call may still be correct......

One thing is for certain .....the behavior of this market is clearly that of a gravely injured beast on life support. Propped up by the fed and ventilated by GS et al. For your sake and mine they better succeed. Unfortunately I am not a half full guy here and fear the end is going to be ugly for the country. Perhaps the QE and Monetizatiion is the best strategy but time will be the judge and not the near term.

Now for the immediate ...be patient keep your eye on the dollar, oil , gold.......forget the market its just a chop shop until the dollar move begins. If they fail and lose the dollar (which I don't see yet) we are through. Gold to 1400 in the near term if that happens. GL gang...here is Droke

http://news.goldseek.com/ClifDroke/1252562700.php

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