Member Info for Tornadotony

2 April is likely to be renamed as calamity day.

The weekly RSI currently exceeds 75.

From 1 January 2001.

12/5/ 2003

20/5/ 2003

2/4/2004

6/10/2004

22/11/2004

11/8/2005

10/5/2006

18/7/2007 - 23/7/2007 inclusive.

20/9/2007

14/7/2008

6/12/2010

14/9/2012

19/9/2012

8/2/2016

23/2/2016- 29/2/2016 inclusive

29/4/2016

6/2/2017

8/2/2017

16/2/2017

18/10/2019- 23/10/2019 inclusive

18/2/2020

24/2/2020

22/4/2020-24/4/2020 inclusive

14/6/2020-28/6/2020 inclusive

17/5/2021

17/2/2022

7/3/2022

8/3/2022

5/4/2029

9/4/2024

Of course so far today.

London has just joined Asia and pushed gold much higher in the last hour. Interesting to see what happens on USA open.

Steve

This gold rally has exceeded anything that took place in 2020. It now matches the 2007 rally August to November and we know what followed within a year. London and USA now gapped out by Asia gold move. Needless to say everything is heavily overbought on stochastics running on 97-100%. Tony

Asia market extends futures contract to $35 over spot.

Half way through options and got off lightly thus far. We should open tomorrow on close price of 1755p. We now see where we are with those holding new gold contracts tomorrow for June. The pull back on USA equities did run as expected. The issue with gold is the weekly chart with stochastics at 95% and RSI on 74. Gold is so overheated on the buy side with a lot of resistance above that the only way it can keep going higher is having consolidation pull backs. A case of two steps forward and one and half backwards is the best trend unless we get a good shake down and it goes on a 15% rally afterwards. All the best to our readers.

State street held the M&G account originally. It matched M&G holdings when they contributed to a raise and the initial investment. SP I know you said you worked for MG in the past but this arrangement all arose after you probably left them. Tony

NASDAQ opened negative and now joined by SP 500 and gold edges back. Sell side is warming up in the bull pen.

Case of waiting until everything hits the fan.

Hi Steve,

Jessie keeps an eye on the gold options market and this what he wrote in Jessies Cafe Americain last night.

26 March option expiration for precious metals futures on the Comex.

Shenanigans are usually expected, either tomorrow or the day after. Or both.

Bear in mind that the wiseguys not only see what each other are doing, and will signal their intentions in various ways to the lesser denizens of the pits, but they also are able to see in the aggregate what you are holding in your hand.

It does matter. And that's why they don't let you see it, but pay well for their own ability to watch the order flows and reconstruct relative positions.

Yeah, it's not fair. That's the point. And its very confusing to 'bull market geniuses'.

So let's see how the next couple of days go. I think a drop in stocks is in the wind, as well as a gut check for the precious metals.

But timing these sorts of things for those who are playing the game according to 'the rules'.

All the best and good luck.

Tony

Expect volatility on gold possibly today and tomorrow. This is where we see who takes April delivery of gold in physical or expires the contract. This can impact mining stocks.

Trading with Blackrock feels like swimming with a whale. Once they are in you know they will sell stock at some point above where they bought during a rally.

I have taken some off the table and booked some profits. Gold has moved higher but at some point it will pull back again.

At present we are set to create a large gap on the Canadian close 1744 which has not happened in quite awhile still we have 2.5 hrs to go. Normally a 20p gap higher on the TX chart over London is now 14p deficit. USD decline has edged up gold further in USD and the pound has also gained against USD.

Afterwards gold went down for remainder of Asian session.

Along with chart gap created yesterday. May retreat soon if gold price eases back.

Thanks Taverham,

I was an investigator on several hospital fires many years ago. It led to big changes in electrical standards and equipment design as well as maintenance by quite a number of engineers and scientists and it was all about preventing recurrence.

All the best Tony

Weekly chart suggesting a top is in play. Awaiting confirmation.

A lot of damage limitation in the press. NG shares get off very lightly.

New futures contract is a lot higher over spot price. Futures is held by paper gold buyers who may not take delivery. Spot price is the one to note.