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Gold is finally taking a bit of a drop this morning however my gold system is hanging in there and still long with a nice gain. No exit signal yet!
I talked a bit about the geopolitical risks and without going into detail again there have been developments overnight that need to be paid attention to.
Top on the list is the Russia Ukraine Nato developments that could blow at any time. Next is Turkey who it seems is forsaking NATO for Russia as an alliance while we have strategic Nukes in Turkey.
I suggest you keep a watch on these as if things deteriorate they will very fast with the U.S. most likely behind the curve with a top priority not to remedy the situation but cover it up and shift blame. At least that has been the Modus Operandi recently and I see no reason it will change.
Again I need to mention that this is not a political statement by me. Both parties are complicit in the above almost equally. I am a strict independent and issue driven and not by any general ideology. On any given year I could vote either Democrat or Republican depending on the issues of the day and the candidate. I am about as moderate an independent as you will find. I abhor either extreme!
So when I comment on GeoPolitical events it’s merely as it relates to the effect on the markets and not any political statement.
With the gap down today I would think that and not a turn around we may see further weakening today, at least in the first half of todays session.
I do not play on trading swings until after 9:00 A.M. PST Then I will reevaluate and see what the market looks like before deciding my trading strategy for the day.
As you can probably tell I have finally substantially finish upgrading the site. If anyone runs into bugs or has suggestions please send me an email. It would be very much appreciated!
If you wish to follow my trades and comments just go to @rickjswings.It’s my private twitter feed for the markets. Unlike my private sports handicapping feed it’s free!
Good Luck Today
RickJ’s Handicapping Picks