[EMAIL PROTECTED] wrote:
>
> http://futures.tradingcharts.com/chart/GD/21
>
> looks like a small bottom to me - brave to call a bottom on the
> price, though! :)
>
> JP!
> (it's all in the charts)
That's a COMEX chart which now shows a gap down which could be an
exhaustion gap. The close is about 4 bucks above '99's 20 year
low. It could be an exhaustion gap on the downside meaning prices
are getting ready to bottom for a while, but too early to say.
On the CMX futures there is no gap down. The USD Index moved
decisively up. The SF, Euro and BP decisively down. The CD didn't
really move but doesn't look bullish.
I can get daily open, high, low, close and volume on the CMX.
I can't measure it but it looks like capital is still flowing to
the US. The US's trade deficit did decrease (capital slowing down
in it's move to the US somewhat) recently but that may be due to
past skittishness in the US equity markets. I think the net capital
flow will probably stay positive (capital will continue to move
to the US for a while longer). Of course that remains to be seen.
It's a relativity game. Capital goes where it's best treated.
I can't see the first (even a failed one) end of trend signal yet
as of the close on Thursday on the CMX. That doesn't mean it can't
develope shortly. We may be within days or a week or so of a double
bottom.
So there was increased need of USD money vs. gold money and other major
western fiat money *yesterday*. The Yen actually went up(?). At least
that's what I'm seeing when I watch currencies moving vs. each other.
JP, thanks for getting back to me. I meant to send this to the list.
Bob
"Inflation only occurs when the government prints paper money
that is not backed by increased production." - Richard Salsman
"A government that robs Peter to pay Paul can always depend
upon the support of Paul." - George Bernard Shaw (thank you
PeelPee)
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