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Message: Gartman

Gartman

posted on Nov 23, 2009 05:18AM

Regarding gold, it “gapped” higher over the weekend; that is, in the modern world where trading takes place 24/7, “gaps” are rare, and can happen when and only when prices close firmly in N. America on a Friday and then “gap” higher in early trading in New Zealand, Australia and the other Asian trading centres on the following Monday. That is precisely what has happened. Gold closed Friday afternoon at $1148 and opened in Asian dealing at $1158 and has not turned back, leaving a huge gap on the charts. How powerful is that gap? Very! What are we to do with that gap? Add to our positions, for we’ve no choice. We pay heed to gaps, and history has proven that to be wise. So add we will.

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