Friday, August 15, 2008

Worst Trading Call Ever

I sure hope people use good stops. I made probably the worst trading call ever on Gold last week. I took my loss on it a few days ago. Gold has dropped over 200 dollars in less than a month. THAT IS HUGE! If you bought gold this year, you are now in the red. WOW! Crude Oil is holding up relatively well. But the metals are getting destroyed as money is flowing into the US dollar and out of GOLD and metals.

The Euro is below 1.47.

Bernanke and Co. must be laughing now. They saved the banks by banning naked short selling. Oil has dropped 30 dollars. Commodities and Ag's are plummeting. And the US dollar is close to its yearly high. All this has happened in 1 MONTH. Major REVERSALS happening in Forex, commodities, and Financial stocks. Beware though, this is OPEX week, so we could see a sharp bounce/reversal in these markets soon.


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