Wednesday, September 17, 2008

Gold Biggest One day Move Ever

Gold had its biggest one day move every supposedly today!

Check out my post from yesterday where I say that Gold still has one more leg down...hahahaha, nice call, huh? We'll see what happens over the next week to see if it continues going up, but so far it's lookin flat wrong.

That said, when I turned on CNBC over the lunch hour goldman sachs and morgan stanley were running in the "Bug" where their quotes were rotating as part of the market indicators -- like the DJIA or price of oil.

I don't know what it's like these days, but back when I lived in the US, that was the usually the sign that a trade was "over".

I'm not sure if the trade is over on morgan and goldman (short) BUT even it is is, there is still a bunch of truth that still has to come out of these financial institutions' balance sheets.


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