Friday, February 20, 2009

Gold, Silver and DOW

Gold is reaching to the sky on safehaven buying - nearly $1,000 an ounce again.

Silver too is making some strong gains - up nearly 4% this AM

The DOW meanwhile is looking quite vulnerable - futures are down 120 points and 7,200 (last seen in 2002) could be taken out soon. ( DOW: Where's the floor? )


LVDave said...

I'm eagerly awaiting Peter Schiff's prediction of the Dow and Gold's Spot becoming one. lol

Anonymous said...

today was interesting. Selling pressure never really took hold of the futures. It was a measured sell. It was the same stick save as always. fed rumors, flowers buys this, tumors. Did you notice todays bounce wasn't as grand as the past stick saves? Sooner or later, rumors won't matter and this market will go where it wants to go, and that is much lower.

BTW, we had a CT call long at 753.75, by wathcing the financials. BOA went from lod 2.53 to 2.73 within seconds, it seemed then the selling was done for now. Wait till we get to 740 s/p, all the bottom callers will come out in full force with this double bottom crap.