Re: Gold...
in response to
by
Timmins & Beardmore - Northern Ontario
Focused on becoming a near-term Gold Producer
Message: Gold...
Gold moving bigtime again this AM... big moves started just as NYMEX opened. Movement up coming on large volume spikes... than some contraction... then up again on volume. Relative strength is definetly up.
Maybe 'it' is starting to happen. Interesting none the less. Could change paper market for gold forever.
red911
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Is 'IT' starting to happen? Something is happening. Gold exploding.
If gold gets above $800 I will be a believer LOL.
Something moving gold producers early today as well... even though gold spot was down significantly for most of the day... until now.
red911
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Gold...
Posted by: red911 on November 13, 2008 10:20AM
IF... even I admit a big IF... gold bugs (i.e. Embry et al.) are correct... gold will be trading much higher just 1 week from today... November 20... when COMEX December 2008 options expire... open interest for December calls is enormous... most at prices much above current spot.
Have no idea what may happen... Only time will tell.
red911
P.S. Redemption deadline for 2008 for many funds is at the end of the week... selling pressure from funds to raise cash for redemptions has caused a lot of selling pressure as evident by recently released record October 2008 redemption numbers... lots of money on the sidelines waiting for final redemption tally to come in?
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