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I suppose GC and CL traders have a very capable and developed sense of danger, its like being among a pack of hyenas. Whereas, the ES maybe like a herd of elephants, lumbering and gentle, but still capable of immense inertia and momentum.
Years ago, when I was a (ahem), a gold bug , I ran across Paul van Eeden (who was himself a self proclaimed gold bug) until he opened his eyes and wrote up some lucid points about the gold market. His co-relation of Gold with money supply and velocity of money is worth reading. And shows us how puny the gold market really is terms of total capitalization of capital markets. And how painfully easy it is for gold to have these insane yo yo moves.
One more glass of cabernet. (NOTE THE SIM WINDOW ON THE CHARTS TONIGHT) And then if I keep going I will not be in any shape to trade tomorrow. And not convinced I will anyway. Happy where I am tonight.
I helped my neighbor rebuild his dock, which started with the hardest thing I have done in years; take the old poles out. I am physically whipped, feel it every time I get up, or breathe.
I entered a trade today, could have netted 80 ticks on a 5 tick stop if I could actually trade that way. Then my wife came in, while the trade was thinking of coming back on me, and said she could not see where she left her glasses and needed help. I thought, "Awww, man. Now? Seriously?" To myself of course... and then hit CLOSE.
We found them, under a pillow. I saw the missed trade after... And then took a 30 minute break. Took a quick shower actually. Shook it off.
LOL, he he he he......now drink some more, watch this lovely, cultured and poised argument Paul sets on GC and USD among others to this airhead reporter, and tell me this does not make sense.
Watch in HD, its neat! Every friggin gold bull should be made to watch this.
Something like that, but what do I know. Nothing surprises me on gold, even swings like that. I have less interest in gold than a piece of turd. But this chart sure looks like the parabola is about to revert (to an ugly mean for gold bulls)