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.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford
Nice to see such objective treatment of the subject. I've also been "rambling" about today, and my quick summary is that people are ALL OVER THE PLACE on this one. Well, almost. I've still to see the $500 flipside of the bubble phase chart! :-)And they're talking about every "possible" reason you can dream up, from manipulation to China's anti-corruption campaign ( http://soberlook.com/2013/04/is-chinas-anti-corruption-campaign.html ), everything, that is, but how a bubble often corrects (i.e., TA). Nice article here IMO: http://www.streetsmartpost.com/2013/04/16/what-happened-after-golds-similar-2-day-plunge-30-years-ago/ The PM's have spooked a good many, and rightfully so, but with the talking heads bull spinning as best they can as they so well do, we'll soon be hearing about why the sell down in commodities, especially oil, is bullish for the economy!!!Stocks may take a while longer before they follow in gold's footsteps.
Thanks HR...sems like everyone either has to have an 'explanation' or was predicting this along and saying 'told you so' ! Waiting for a bullish weekly candle seems like best strategy to me