Morning Outlook from the Trade Desk 02/06/12

Discussion in 'Gold' started by metalsmtl, Feb 6, 2012.

  1. metalsmtl

    metalsmtl New Member

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    20 pounds of pulled barbeque pork, 5 pounds of Italian sausage, 2 pounds of coleslaw , a freshly baked chocolate and blueberry cake with cappuccino. Sounds like the making of a great Super Bowl. It was until my team lost. To add insult to injury a very shrewd and perceptive lady from the media team also managed to relieve me of $20. Brady is just too cute to win: really ! Somewhere in IT there is a picture of the final act in defeat but my pride would not let me hit the send button. Congrats to the Giants.

    On a more somber note, I totally miscalled the direction of the market Friday afternoon. Thinking the sell-off in the metals did not resonate, I took a long position. In the case of silver the market actually traded above my entry point over night and gold got close. The reason, good employment numbers, took the risk of the table and had traders run to the equities. Now remember, the past six months as go equities so go the metals. Too early to tell if the markets have de-coupled, but prosperity is not here. gold sitting at $1,720 support area. Was really expecting a test higher. Call out the monkey. My gut tells me be long but ,,,Maybe time to throw the dart for short term direction.
     

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