http://www.StockMarketFunding.com Big Money on Wall Street Bailing on Gold GLD Trading Analysis on the GLD ETF. Gold had a big intraday reversal after putting in a high of $134.85 on the SPDR Gold Shares (GLD) 10/19/2010. Gold prices fell about $40 from their high as speculators buying long got crushed. In a prior trading video on 10/4/2010, we highlighted that Big Money on Wall Street Betting on Gold GLD Massive Call Options Trading on the GLD ETF. Massive Call Options Bought on the Gold Index Indicating a Flee to Safety? We've seen major names like "Alex Jones", "Ron Paul", "Gerald Celente", "Robert Prechter", "Doug Casey", Max Kieser" and other notable names have been coming out and telling people to "buy gold" as well as the highlights with "gold manipulation" brought about by Gold Anti-Trust Action Committee (GATA). The SPDR Gold Trust (NYSEArca: GLD) had some massive amounts of call buying today as we see big players on "Wall Street" move in to make "big bets on gold" "massive call options" purchased today represent huge amount of amounts to be purchasing on an intraday level. The technical analysis of options trading goes like this. The buyer of the call options is obviously "bullish on gold" and wanted to give him or herself time for the gold trade to work in there favor and that is why you're seeing the majority of the gold options traded today in "L.E.A.P"s going out till year 2012. We saw 97,687 "GLD" January 2012 145 Calls traded and 70,500 "GLD" January 2012 140 Calls traded. It's obvious to anyone paying attention the "federal reserve" is printing a mass amount of "US dollars" and we'll eventually feel the impact as the money is circulated throughout our "economic system". We will continue to see how the Obama Administration reacts to the massive unemployment figures and the continued reliance on the FOMC to keep "interest rates" artificially low so there is always some sort of "Wall street gimmick" or "carry trade" to take advantage of global economic trends and money flows. The dollar had only come off the gold standard in 1971 and was still relatively sound. So, far from being something to rely on, and very far from being as good as gold, the dollar is going to be a lead player in the catastrophe called the Greater Depression. Perhaps, although after the misadventure of poor taxpayers throwing money at rich traders at Goldman and AIG, the public doesn't like the ring of that term. More likely it will nationalize them, assuming their assets in exchange for a special class of its paper. In the interest of "fairness," that will happen to small and solvent funds as well as large and bankrupt ones. As domestic currencies the world over are inflated away, some medium of exchange and store of value will have to be agreed on. I don't see any realistic alternative to gold. But the odds of the U.S. voluntarily defaulting on its debt, abolishing the Fed, using gold as money, abolishing all agencies not specifically designated in the Constitution, eliminating the income tax, and cutting back on military expenditures by about 90% — among other things -- are so small as to be considered a fantasy. Gold and silver, even though they're no longer cheap, are going much higher; they'll be what you'll trade for things that are cheap. Agricultural commodities are going to do well. The trillions of currency units being printed all over the world will definitely ignite more bubbles, which should present fantastic speculative opportunities. And because the political situation will be hairy, diversify your assets outside of your home country. comment by "Doug Casey". Gold shines, hits new record after jobs data. Currency war? Why countries are rushing to devalue. Vanguard strikes back in mutual fund price wars against "Fidelity Investment" and other "mutual fund company" firms. The Dow and S&P 500 essentially followed up a choppy, lackluster session with a flat finish, but the Nasdaq underperformed as large-cap tech issues acted as a drag. Broader market trade lacked direction in the early going. Stocks were unable to build on the prior session's big bounce mostly because of disappointment over the September ADP Employment Change. The report indicated that private payrolls fell by 39,000 last month, but economists polled by Briefing.com had expected, on average, an increase of 18,000. On a positive note, data for the prior month was revised upward to reflect an addition of 10,000 payrolls. Still, the downside surprise of September.
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Big Money on Wall Street Betting on Gold GLD Massive Call Options Trading on the GLD ETFby StockMarketFunding2,886 views
Perhaps FOFOA is correct.
The price of gold (paper gold) will collapse, but there will be no physical gold available--it will go into hiding, later to emerge with an "alternate" price.
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Who has faith in paper money, anymore?
tyronebiggums3 1 year ago
@tyronebiggums3 it was interesting that the Federal Reserve Board on October 7, 2010 announced the issuance of a consent Cease and Desist Order between HSBC North America Holdings, Inc. (HNAH), New York, New York, a registered bank holding company, and the Federal Reserve Board. They are the holders of the gold for the "GLD" I wonder if there is any hanky panky going on like in Fort Knox.
StockMarketFunding 1 year ago
Let's see if this isn't another solid buying opportunity like the last pullback
OptionsSchool 1 year ago
@OptionsSchool we'll see if we can get some stop losses taken down coupled with margin calls to get a nice pullback
StockMarketFunding 1 year ago