There's a quite a pile of Interventionals coming up. Here's the outlook for Gold Interventionals for the next week plus:
- Tuesday 1/24 - Turd's "Happy Tuesday" (click here) - where the Evil Empire attempts to cover some gold and silver shorts to make the commitment of traders (COT) report look good. I expect we'll get some positive action thru the close here so that the Evil Empire will have plenty of ammunition for the Interventions that should follow.
- Wednesday 1/25 - FOMC Meeting Announcement w/Chairman Press Conference - gold will be driven down so that it doesn't make the Almighty Fed and its Chairman Bernanke look bad.
- Thursday 1/26 - Durable Goods Orders and New Home Sales - not a big interventional but we need to keep gold looking bad for the big ones which are Friday and Monday the 30th.
- COMEX Gold And Silver Options Expiration - which influences the next day, Friday.
- Friday 1/27 - Q4 GDP which will, of course, be "better than expected" with gold being taken down to help form the impression that "we're saved!".
- Friday 1/27 - Day after COMEX Gold And Silver Options Expiration - gold is forced down so that anyone who exercised their call options is motivated sell their futures and not take delivery of the physical gold / silver. The close on Friday should be a good entry point.
- Monday 1/30 - After the retail gold bugs are whipped up by cheerleading over the weekend, they typically bid up the price of gold stocks for the Monday open. Gold stocks typically fall throughout Monday to demoralize those new buyers.
Well, that's my short-term trading outlook based on the Interventionals. I expect I'll hedge some of my Gold call options beginning sometime Tuesday (probably near the 4PM close) and exit on Friday at the close with a little more short-term trading as things go along.
Gold has had a good 10%ish ($150ish) run from the lows around $1525 to nearly $1570 in just a couple of weeks and a few day pullback seems like something to prepare for. Got any dry powder?
MontyHigh, www.worldofwallstreet.us
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