29 December 2011

Gold Daily and Silver Weekly Charts - Painting the Tape Red



There was intraday commentary here.

The thought is that the big metals shorts are hammering the paper prices in thin trading to 'paint the tape' for their year end mark-to-market. 

It smelled like a capitulation today, but as the volumes were so thin I would not care to call it.   But 1524 had the look of a bottom.  Aggressive traders must be chomping at the bit. 

Let's see how the year ends.