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Well isn't this something. Gartman finally sold some gold at a
short term top, congrats.
But the real issue isn't that gold's down a hundred bucks. The
real issue is that fundamentally something very odd is going on
concerning Europe and what they're doing
Well isn't this something. The FOMC met, and they decided to do
nothing. Not a single word about doing some form of stimulus. So,
naturally the market which had risen 120 points in anticipation of
some form of juice, fell like a rock and went red by
Okay folks... Lets chat here a second.
I just bought some gold coin. Why? Because... there's something
very weird going on here.
Tomorrow is an FOMC meeting. Not once, not one time all day did
CNBC mention it. Every FOMC meeting
Grrrr. I really really wish I'd have taken those DIA calls at the
close. Those 119 dollar strikes gained 70 cents this am. 10
contracts, up 70 cents isn't a fortune, but I like making 700 bucks
In any event they have
I know this might not get to you on time.. I had some tech issues.
I was going to suggest that I might take some Dec 119 DIA call
options right at the close. Since you probably won't get this in
time.. I'll pass.
So, Draghi is
Pink? Yes. What's my definition of a pink close? That's when we're
just barely red, or a mixed close with say the S&P down a few
and the DOW up a few. That's what I suggested might happen today
and right now at 3:10 pm
We're "hovering" which is fine. We've been up some, red some, and
back to up some. That's very constructive action for the idea that
they're willing to try and move things higher. After big moves, you
don't want them taking it all back, you want
Frustrating isn't it? We got stopped flat on X and RVBD and of
course today they gapped up at the open and once again RVBD would
have been up over a buck for us in a "day". Grrr.
In any event, we put on 150
We are doing well here. The market is "stupid high" because that
would be bothersome. I also think some of this shine comes off
before the close. While we're up 129 now.. ( I'm writing this
at 10:35) I'd be surprised if we closed higher than say
So far so good. After a huge day like yesterday, seeing them hang
in there and keep the market relatively flat is the perfect follow
Granted we're going to see bigger wiggles as the day progresses,
but all in all, we're looking