February 21st GOLD/OIL

Today was a HUGE day and I managed to hit my targets from 24 hours ago already.

The funny thing about today is Germany's Figures were EXTREMELY GOOD, it pushed the German Index DAX30 to a new high this morning before middle eastern chaos broke out.

Results

Middle East and North Africa In Danger of Economic Collapse

With the success Egypt has had over its mass protest to dethrone their leader in search of better civil rights and liberties and a pro-democracy government. Countries like Tunisia/Libya/Yemen/Jordan/Morocco/Bahrain have followed suit in inspiration hoping to achieve the same.

This DESTROYED the stock market index in devastating fashion, like a tornado all European Exchanges toppled like dominoes systematically falling 50-200 points. Erasing gains from the previous week.

My thoughts are this will go on for a long time, Libya is one of the major oil producers in the world, with production of 1,800,000 barrels a day. Libya also was deeply invested in the stock market, which also worsened the downfall. One of its oil fields that BP controls had to be halted and evacuated, which is why BP share price went down today as shown in the picture.

My plan is to stay away from the stock market for a few days until we determine what the real impact of this will be, and carry on monitoring/trading Gold and Oil.

Gold went from $1,389 an ounce to $1408 in 24 hours, if these protests shake their economy, tourism will also be deeply affected, businesses will also be in trouble, their currency is at risk of being devalued, which is why the surge in Gold is happening.

I have been saying to buy Gold for months, if you are a trader and you haven't done so already, you have missed the golden opportunity!

Crude Oil, also something I have been talking about for a long time now, which will affect companies and commuters EVERYWHERE, went from $103.37 to $108 in 24 hours. If this reaches $144 like it did in 2008, we will witness a mass panic with chaos erupting in all countries.

I will be waking up early to keep on top of the situation, and USA opening at 1pm GMT is going to move things A LOT, as they were closed due to "President's Day" today.

Commodities such as Gold and Oil usually are open for trading 24/7 unlike the stock markets, so this is another thing I am concerned but considering the state of unrest my profits should be fine for the time being.

Goodnight all.