Print & Put Next To Screen
Take a deep breath.
I’ll be the first to admit, that at times, gold makes no sense; hence the reason for the algorithm. I have made the case so many times – first stay out of trouble. Then go ahead and make money.
The gyrations we have seen since in the market since 1:00 PM [Chicago time], when incidentally the Fed let everybody know that inflation is heating up, are extreme in the max to what is normal. I can’t tell you, or give you any solid advice on how to handle $10, or $15 swings in price within seconds. Only the dealers win in an environment like this.
For about 3 hours today, from 11 AM to about 2 PM, I had no power or internet. When the electricity finally came back on I was somewhat surprised at what I saw. Earlier today, the algorithm turned into “sell mode”, so I hope somebody caught the downside move while I was in the dark.
Going forward, expect this kind of up/down craziness as the market is getting [and staying] quite volatile. Be very careful where you put your stops.
Have a good day everyone.