Let's see if the support level down near $1380 can hold old yeller on the downside.
Tuesday, March 15, 2011
Gold Temporary Victim of Hedge Fund Money Flows
Don't be unecessarily alarmed by the behavior of gold today. We have seen this before during times of hedge fund algorithms gone wild. It is the result of money flows, pure and simple. Once the machines are done their thing, the price will immediately rebound. There are very strong buyers who are more than content to let the funds sell into their hands.
Let's see if the support level down near $1380 can hold old yeller on the downside.
Let's see if the support level down near $1380 can hold old yeller on the downside.
Am a buyer today... we'll see how the market reacts - may be a short-term trade or hold for a few days. I think G/S will start to get a bid at these levels.
ReplyDeleteMy hopes and prayers are with the good people of Japan.
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