Hello, Just wondering why did Gold Futures have a crazy spike down on January 6th and a crazy spike down and then up on December 6th? Is the sixth of the month a day to be careful of? Thanks
God made the world in 6 days. It is to commemorate that achievement that gold futures dance heavily on the 6th of every month. Gringo
1) ?.... December 6th was the non-farm payroll. 2) ?.... January 6th was the first "full" business day of the year. Everyone was back from vacation and putting on trades. It was also the ISM report which tends to be a "market mover". I believe there was a "fat finger spike" coinciding with the report that accounted for the entire day's range in the span of ~1 minute. :eek:
======================= Thats true + Robert asks '' be careful the on 6th day??'' I agree with that; when it come to silver or gold, be careful on 7th day..............................................................................I dont really like to sell short on 6 or seventh day down;to each his own. Robert some traders are just somewhat crazy with the number 6; 1964 JFK half dollars, spikes are real common;1966 not so much