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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: orkrious who wrote (59134)8/4/2006 2:47:37 PM
From: PerspectiveRead Replies (1) of 306849
 
Not to attempt to sway your opinion, but I cleared out my last golds in March. I was a little early, but I see strong evidence for Prechter's "all the same market" idea. Everything is moving in lockstep, and I think the metals could easily follow the other financial markets here. Once a housing bear is rolling, it will take an awful lot of money to money heaven. Fed efforts to fight it will likely benefit metals disproportionately, but I don't think the Fed has absolute control over the money supply. So much of the creation has moved outside of their control.

Of greatest interest to me right now is the potential H&S top in both PM stocks and oil. If those break down, and they should in a recession, I think it will confirm a major long-term high for them, and at the very least a deep wave 2 correction should occur.

BC
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