new_trader
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Market Update
The markets appear to be treading water until the end of US election. I am still holding firm with my end of 2012 target for the ES @ 1500 and correspondingly a Gold target @ $US1830. Short term this looks like a shakeout of the weak hands and I suspect the lows are near. I would add to my gold position around $US1650 - 1680 if it gets there.
The US GDP figures are released today, but just like any ‘NEWS’ I think it’s just a sideshow to the US elections as the Central Planners have essentially made their intent clear, which is Financial Repression until ‘something’ happens. I will be watching for a move higher to a short term target on the ES@ 1410-1411 and Gold @ $US1715, probably just before the GDP figures are released or just after.
As always, I could be wrong but so far the market hasn’t delivered any real surprises.
12,027
The markets appear to be treading water until the end of US election. I am still holding firm with my end of 2012 target for the ES @ 1500 and correspondingly a Gold target @ $US1830. Short term this looks like a shakeout of the weak hands and I suspect the lows are near. I would add to my gold position around $US1650 - 1680 if it gets there.
The US GDP figures are released today, but just like any ‘NEWS’ I think it’s just a sideshow to the US elections as the Central Planners have essentially made their intent clear, which is Financial Repression until ‘something’ happens. I will be watching for a move higher to a short term target on the ES@ 1410-1411 and Gold @ $US1715, probably just before the GDP figures are released or just after.
As always, I could be wrong but so far the market hasn’t delivered any real surprises.
12,027