Gold Expiration

I knew April Gold expiration was this week and was mistaken as I thought it was this Wednesday. The day was today for expiration, I am glad it is out of the way. It is funny how we did trade back below 1600- this morning and more importantly we may have more work to do this week. THEY have painted a nice little double-top on the daily Gold chart. Have a look

Sure does not look promising, but it could be a trick. Gold traded as low as 1588 this morning and was met with significant buying to close above 1600-positive sign but as I write this we appear to be drifting lower. Watch to see, if the bears cannot crack the downside much below 1585 in the next couple of days, we may have a nice setup for a SHORT SQUEEZE which could take us up through the double-top around $1620. Now that option expiration is behind us, with all this European Banking Crisis back in the news, we SHOULD start to see some volatility coming into both Gold & Silver. If trading, you must USE CAUTION. If stacking, we could not be happier!

You all know I love GOLD, I am just showing you what I see from the charts and what I am saying is just be on the lookout for some good old trickery by the BIG Boys! That's my take on Gold, stocks why even bother this evening? I do not claim to be the smartest guy that writes about the markets on the internet and I would love to bring to you, the best market knowledge I possibly can. Trader Dan Norcini has a great post on the Cyprus situation today and I would love for you to read what he has to say. Here is a link
http://www.traderdannorcini.blogspot.com/2013/03/dutch-finance-minister-loves-raiding.html

Again, I have learned many of things from reading Trader Dan since 2003. I love his work and I am not afraid to share it with others!

It is a holiday week and I hope you all enjoy some time with family. With that said it may be quiet in the markets towards the end of the week. Tomorrow we have Durable Goods and some other numbers and on Wednesday we get a read on US GDP. Tomorrow should be active and Wednesday should see some action in the markets.

Thanks for reading
Be Strong/ Be Careful
Martin