Dec Gold fell down to 1251 last night, only to rally back to 12.87 as I write this. Quite the chop fest.
Ditto for The Dow.
The Dow high at 15,265 the exact 62% Retracement would be at 15,273. 7 ticks from getting filled, we break 175 ticks. Very frustrating trade if you were trying to sell that Fibonacci.
With the Government shut-down unfolding and continuing trading now is not for the feint of heart. I did very little today once my sell stops were triggered in Gold.
I did use the morning to exit KC wheat calls and Chicago Wheat calls where we had more than doubled our money. The wheat looks suspect here, with it showing difficultly in getting above 65 in KC and 7.00 in Chicago. I really don’t want to be long wheat until those levels are breached decisively.
CER