Wednesday, April 4, 2012

time to make new lows on the day?

10 minutes til the gold options pit closes. 164,000 futures contracts traded, sitting at 1616, we're 2 dollars off the low of 1614. On days with this kind of volume, they love to push it lower near closes (whether our options pit or the stock market close at 4). Some momentum could pick up soon.... I like playing the breakdown, and taking it off if you don't get it within the next 20 minutes (its 1:27). You can stop out easily 4 dollars higher (1620)

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