Economic 101 Challenged MSM

[MarketNeutral]

New-home sales point way to gold gains

Gold prices reversed course Friday after a report showed U.S. sales of new homes surged in March.
http://www.marketwatch.com/story/gold-futures-edge-lower-after-us-economic-data-2010-04-23#

[MAGNES]

Home sales pop so gold goes up. ? ? ?

All noise if you ask me.

What's interesting is gold popped to 1155.

And I went short silver, total gamble , but
hey, looks like a good setup with some
play money. High RR.

I think gold will settle about 1120-1130
for expirey coming up. SI sub 1800 .

[MarketNeutral]

In real economics strong home sales = strong USD = lower gold. :oo-->

[MAGNES]

In real economics strong home sales = strong USD = lower gold. :oo-->


I just think most of it is all noise,
I don't day trade, but couldn't
resist buying a couple of very
cheap silver puts, they been
keeping gold away from 1150-1160
region, maybe they will allow a
double top at 1220, don't know,
they could save big bucks on options
if they kept the price just above 1120
last trading day. That is just my guess.

All noise, start a war gold goes DOWN,
bad news from FED gold goes DOWN.