SUNDAY UPDATE: “WE’RE HERE TO HELP”!

 

“It’s for your own good! … we can’t allow gold to freely trade!”

What’s worse, the ChiComs manipulating gold OR the FED & BIS via the  

“Rally Protection Team”? … “that’s like asking which you prefer, bubonic 

plague or the ebola virus”? … either way you die, so it really doesn’t matter 

much. Gold, for its part, continues its sickly trading action, with Friday one of 

the worst New York trading sessions I think I’ve ever seen … in short, there 

was no trading, just lurch up/down in spurts, leaving the M1 charts looking 

like a bowl of linguini thrown up against a wall.

Directly below the 20 Day Range MA’s for gold and the SP500 for 

comparison.

 

click to enlarge any chart

 

Gold action turning lower, and if you look at options pricing, the “Implied 

Volatility” [IV] of GLD [the gold ETF traded on the NYSE] is at yearly lows in 

the front expiration's … this past Friday’s IV went off the board below 8 

… that right there alone, pretty much tells you how pathetic this market has 

become … most perplexing given the news flow in everything from politics to 

global depression stats flowing through the news wires … and yet, thanks to 

the ChiComs now, we got a market that is lucky to move at HALF OF 

WHERE IT SHOULD BE MOVING … directly below, a chart of GLD “IV”  

for the last year.

 

As you can see, right on the lows … a pretty bleak picture of the state of gold, 

and that makes trading it doubly difficult, cuz any wrong move that loses 

money on a trade, and the lack of volatility hinders your chances of making it 

back … “if there’s no movement, how do you make anything back? … well, you 

don’t”!

So, onto this week, and we’ll see what happens … hopefully, action is better 

than it has been … can’t hardly see where it could get worse, but that remains 

to be seen. Blog post tomorrow after Europe closes … until then mi amigos 

… Onward & Upward!!

Have a great Holiday weekend everybody!

-vegas

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