All in my opinion, please do your own DD. Not investment advice.

The art of making the perfect call. It's easy, throw out a couple of predictions and ones sure to be right(see post below from last night)-lol.

I did nail this though, the selling came at 8am right on schedule. Spot Gold was $998 at 7am this morning, it clawed back as expected. Then, glued to the screen, cup of coffee in hand, I watched as 8am came and passed. As expected the bids started getting plastered the minute New York opened up for business. I honestly thought $975 would hold, when that didn't and yesterday's low fell shortly after, I knew we were into our "10%" correction.

EVERY bull market, commodity, index or stock NEEDS corrections. Fark if I know exactly why, but they say its healthy. That said, imo $905 needs to hold. If it doesn't, we're in for some pain that will leave its mark for months to come. If it does hold, given the amazing speed of the correction (2-3 days) the move back up will shock us all. Short sharp "V's" signifying capitulation is the name of the game...the slow bleed we're seeing in the Major index's is what we need to avoid. Regardless of how she plays out, we see once again that Gold and the commodities markets in general are not for the faint of heart...you got to have real conviction to hold the course through moves like these.

On another note. Very, very nice move from Aurelian going into the close. You got to think that it was company specific as DMM and CTQ didn't budge. Question is did we find something significant with the drills, did we cut a deal with the gov't, or did some index funds try to get the jump on Monday? My vote is for the drills but I'm forever the optimist.

Lastly Gartman has always been a piker in my books. He gets the royal treatment in the States as he was the loudest of the few calling for Gold as the run started. So they parade him out on CNBC every couple of weeks as the lone guy that made the big call. From the number of times he has sold "30%" of his position over the past 12 months, you really have to wonder how much this last 95% really was-lol. I'll give him credit though as I'm sure he's made the 10% he claims this year, which I'd assume is far better than I'd guess 90+% of all americans that are down significant sums. If CNBC wants to parade around someone who has really nailed this market they should bring back Jim Rogers more frequently...I guess they feel that the bow tie doesn't fit their "fast money" image.

Hold gold hold,

Buck

form last night...

All in my opinion, please do your own dd. Not investment advice.

As I'm sure you have gathered from reading my random babblings for the last two years or so, I'm not a big proponent of the manipulation theories, not when it comes to ARU, Gold or any other stock anyway. Rather I believe they are "traded", and as someone who trades, I understand quite well the importance of a timely sell when accumulating and likewise the odd buy when getting out. I understand there are boys on the desks making money a dime at a time working the spread...etc, etc, etc.

Mispriced stocks is how I make money, I mean how much cash could we make if the market was 100% efficient? So while I'm sure there is some truth to the findings of the likes of GATA and have no doubts that our share price is man handled from time to time, I find it more useful to embrace and prosper on these moves then to let it negatively consume me.

On that note I'v got two things tonight.

Gold had to be sold off today in order to "tell" the market the FED had done right. Never in history has the US dollar gone up on the tails of a 3/4 point cut. I see Gold is rebounding this evening but at 8am I fully suspect them to try to bring it down again. This, for me anyway, makes for one hell of a measure of our present reletive strength. If they can't bring her down 10% for it's long over due correction to the $900 level, I fully suspect we see a further parabolic move upwards to the $1250 level in short order. This imo is the most likely outcome and a $975 hold should mark it.

On the other hand, if they can make it correct, I suspect we go range bound for a month or two until frustration manifests itself into calls for further rate cuts in the face of continued weakness in US economic data.

More specifically to our own ARU. Piling up two 50,000share sell orders like we witnessed from yesterday through today, is done to accumulate. You put up the wall and pick off shares all day as people realize the stock isn't going anywhere. I respect it. I'd rather have the guy behind those trades riding shot gun with me then the sucker selling him the shares. Remember one thing though, you can only pull these types of moves off if the stock is not strong in the first place. Ecuadors politics and our managements ill-timed sells have left us weak. Either of them (Ecuador or our managemnt) smartens up and I'm sure we're seeing new all time highs over the past couple of weeks. The fact that they continue to fark around leaves us sitting at the mercy of those that know how to make a buck.

The point I'm trying to make is that I see a lot of really smart guys here bumping their heads on this manipulator/conspiracy wall. If you've picked up the patterns...make money off of it. You can't beat them so join them. Or sit back and wait, because although the market isn't 100% efficient, it does eventually find its way to fair value given time. We all know that we aren't anywhere near fair value when it comes to ARU or the price of gold so I'm patient.

Best regards,

Buck