Friday, February 01, 2008

Gold Chart Painting

Friday, Feb. 1, in New York, gold opened higher than yesterday's high, then got pounded down to a low that was lower than yesterday's low, and closed low. That is an outside reversal day to the down side.

This should be considered normal cartel/TPTB (the powers that be) gold chart painting to try and throw off TA (technical analyst) types that do short term trading; to try to get them to get out of their long gold positions.

The last thing TPTB wants is for gold to act as the canary in the coal mine, giving off financial/economic warnings, especially at a time when the money center banks are particularly fragile.

Do not be fooled by this outside reversal day to the downside. Gold is in a major long term bull market. Consider today's action mere gold chart painting by TPTB.

They were not able to make an outside reversal day to the downside in silver.

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