Platinum down $178 ???? Anybody have any ideas?

Having called the local kitco office, they can't offer a quoted price for Plat. until pricing issues are resolved.

Wheeee:

See the notice on Kitco's site now. Began to think the 'Year of the Metals' was really coming to an end ;)

USD getting stronger....North Korea, another HF in trouble? (Platinum), next trade numbers should show big decrease of trade deficit in the US, whatever the reasons, USD/Euro has broken out of recent trading range. USD allready strong vs Yen.

Everything is bullish?

Oil stocks up - must be a bottom right?
Gold stocks up - must be a bottom right?
Utilities up - rates are gonna fall again right?
Nasdaq up - oil is going to fall again right?
DTRANS up - oil is going to fall again right?
DOW up - going to make a new high again right?
S&P 500 up - wins all ways?

Tradesman: just compensation for May 12th, when everything went SOUTH at once! LOL

Could be...

I'm seeing a lot of flags, consolidations, rising wedges etc.. everywhere...

Everyone seems to have bullish bets placed in all directions - sellers unwilling to sell, buyers awaiting the next break.

I expect some volatility coming either way.

On mornings where everything is moved up by the 'generals' on suspect total volume after coming back from holidays and the day before earnings start - one would assume this is distribution.

Bill-

Our PG trade is workin' the past two days....

Hoo boy. (Exhales.) Me really no likee gold chart. Rest of week very important I think.

MarkM

Just throwing this out here... as a remote possibility: could the monthly charts of golds turn into something rather nasty?

We are 5 months into a decline...
This has been the usual time length for corrections since 2001...

Lets say this turns into a bear market for golds - lets call it 8-9 months.. until say Jan where seasonals kick in... (Don Coxe mentioned an 8-9 month commodity correction as a possibility in his latest radio address I believe.)

If we don't get a flat ABC-type correction like the other times - we get an ABC correction with lower lows.

So would $XAU at 100 be out of the question?
This would still maintain the uptrend from 2001.

And if this did happen - would it be due to gold going to less than $540? - Or would it be more due to heavy money flow out of gold equities into other equities?

XAU=100 would have to be Gold= 490/500 I think UNLESS the decline was a grinding gradually lower through December to 540ish or a bit lower and you just saw people give up on their miner shares. If the decline is abrupt (2 day event)then XAU hits maybe 110. JMHO.

The other scenario is a general beta toss as the market starts chunking down as part of a 20% correction. The beginning of THAT would look pretty ugly I think for the miner shares. Could see XAU=100 or a bit lower unless the rate cuts had already happenned or imminent and the market selloff was due to earnings and guidance being in the pits. As soon as rate cuts come into play I think the shares and gold recover quickly.

"We are 5 months into a decline...
This has been the usual time length for corrections since 2001..."

This is a good observation. The timing of gold's seasonal strength could be pushed back by two months or so due to the spec/hedge blowoff run put on in early Spring. However, I sense a great deal of apathy out there for the metal right now and it would not surprise me if Christmas ain't comin' this year. Could just do absolutely nothing until 2007 like Tradesman writes.