Gold Gann Angle Update

Seriously if you have a billion dollar gold position, why would you sell it a 2:00 am on a Sunday morning when the markets only have $100,000 dollar value bids? Well no human would do that, but a govt would.

However the fix for lower prices is lower prices. The massive open interest built up in Gold and Silver required a punch down to allow position to be unwound, so watch out for that to happen, and that will most likely mean a strong bounce is due. 

FYI, so why isnt silver crashing just as hard as gold? Simply all time high open interest and there massive positions to unwind. Every silver cent down is being hit with short covering. Banks like Citi and JPMorgan have to unwind massive silver shorts, to do this they need price falling to show a profit for their efforts. 

Price is on the 1st 1x1 Blue Gann Angle, second resistance.

The $100 on the GLD is a very big magnet, one level to watch.

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Investing Quote...

..“The desire for constant action irrespective of underlying conditions is responsible for many losses on Wall Street, even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.”..

Jesse Livermore 

.."It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong"..

George Soros

..“I buy on the assumption they could close the market the next day and not reopen it for five years” and “Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.”.. 

Warren Buffet

.."The first rule is not to lose. The second rule is not to forget the first rule"

Warren Buffett

..“One must search through a maze of complex and contradictory details to get to the significant facts … Then he must be able to operate coldly, clearly, and skilfully on the basis of those facts.” The challenge for the successful speculator is “how to disentangle the cold hard facts from the rather warm feelings of the people dealing with the facts.” Moreover, “if you get all the facts, your judgment can be right; if you don’t get all the facts, it can’t be right”...

Bernard Baruch