Tuesday Evening 30 July 2013
Raise the sell stop in half-position Dec gold to 1326.
We just finished our evening analysis of today’s intra day
activity in preparation for tomorrow. Wednesday’s
unfortunate outstanding feature is another lie-fest from
the person in charge of that fiat-issuing organization.
Gold’s paper price is right in the middle of a trading range
and the middle of a wedge formation, from which gold can
breakout in either direction. We do not trust the Fed,
which has a bias against gold.
The stop is raised purely as a money stop, instead of just
exiting at market, just above 1327, presently. We will
occasionally monitor this market and look for a rally to
sell, as well.
We want to be long this market but for reasons that are
outside the current paper price structure, which is still
in hands of price manipulation. Continue to buy the
physical at any price, while exercise caution in futures,
which is what we are doing.