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Politics : Welcome to Slider's Dugout
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To: DBain who wrote (2466)9/25/2006 10:21:13 AM
From: RonMerks  Read Replies (1) of 50730
 
Will Head & Shoulders Chart on Gold takes us back to Katrina lows?

Slider you you really brought up an interesting point on what you termed 'causation'.

In just looking at the most basic 1st impression when you view the gold chart- it appears to be forming a fundamental head and shoulders formation.

Any comments?



The retracement that's underway could then take gold down to the low to mid $400's again.

Whats interesting about that range, is that's the price level Steve Forbes called for the Fed to reflate to, back a few years ago.

Are we going right back to the Central Bank and markets comfort zone for gold (manipulated, or not)?

I'm down to holding my core (never sell) position in silver with a little gold. I have to admit I was tempted by all the bottom callers here of late, but so far am holding off.

TIA,

RON
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