GOLD STUCK

“The answer is simple: Outlaw Monday trading!”

Not much for markets to hang their hats on at the start of this week … gold stuck

inside the July 5th daily candlestick NFP day … in fact, this is the 6th day in a row

we’ve been inside … not much news to move gold, or anything else for that

matter, as we move closer to the end of the month and the July 31 FED meeting,

where right now a 25 basis point rate cut is baked into the cake.

Quite frankly, today so far is nothing more than “play time” for banks, and we find

ourselves jockeying around 1400 ± $20 … what we need to see is some kind of

conviction on a move towards those levels … good luck with that before the end

of the month, but I’m sure something will stir the pot up before then.

The gold algorithm came close, but no cigar, on two buy signals that couldn’t

confirm, therefore we passed … as it was, that was a good decision, cuz our

proprietary indicator for “big money” momentum was MIA last week and it cost

us some small coin … everything in place now, and what you’ll notice going

forward are many more signals on up days versus down days. As it is, today

looks more like a small “doji” on the daily candlestick than anything else.

Just another useless Monday in markets … with Europe closed now, action

should dwindle down to mindless chop … could see something, but I severely

doubt it … got a doctor’s appointment early this afternoon for my annual checkup,

so I’m outta here a tad early, and of course I’ll be as grumpy as I can, simply cuz

it’s a waste of time … my blood is green, my eyes purple, and so what you can’t

find a pulse? … what’s the prob here Doc? … and while the Mrs. will be asking

about having me put to sleep, and I gracefully remind her that that’s for the dog

[Oh sorry, my mistake!], I’ll be back at it tonight in Asia [just in case], and we’ll

see what tomorrow brings … until then mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas