This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
Thursday, 15 December 2011
Gold
This looks like a 3rd wave and it has hit the lower channel line.We should have a 4th wave rally,then more down
In the age of deleveraging, a buy and hold strategy in stocks, such as the one by Barrons, that is Barron's 10 Favorite Stocks For 2012, will be utter disaster: its falling on a knife. The only prevailing forms of wealth will be diktat and the physical possession of gold. Guy M. Lerner of The Technical Take relates that gold is still in a bull market and presents the monthly chart of the gold showing it to be in an uptrend. Gene Arensberg of Got Gold presents the weekly chart of gold headed to support at $1,535. And Mitch Hammerstedt of Market-Foresight presents the daily chart of gold trading at $1,574 with support at $1,500. The fall lower in gold reflects speculative exhaustion and presents a buying opportunity.
In the age of deleveraging, a buy and hold strategy in stocks, such as the one by Barrons, that is Barron's 10 Favorite Stocks For 2012, will be utter disaster: its falling on a knife. The only prevailing forms of wealth will be diktat and the physical possession of gold. Guy M. Lerner of The Technical Take relates that gold is still in a bull market and presents the monthly chart of the gold showing it to be in an uptrend. Gene Arensberg of Got Gold presents the weekly chart of gold headed to support at $1,535. And Mitch Hammerstedt of Market-Foresight presents the daily chart of gold trading at $1,574 with support at $1,500. The fall lower in gold reflects speculative exhaustion and presents a buying opportunity.
ReplyDelete