Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: westpacific	11/10/2007 7:18:20 AM
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Commodities....double top? Pitchfork technical saying we may have a top. To me all of 2007 looks like one big topping pattern into a blowoff double top. Weekly chart looks so ready to roll over with a very bearish MA crossunder a month or so away if it turns down again. Me - just went short this chart this week. Looks look at few other in this area. Gold (834) - the historical trend line, $495 and $384 - so many talking $2000 gold, that is time to get short the metal! I go short at $930 - that could be all gold sees before game over. Silver (15.55) - try 8.59 and 6.10, watching this triple top 15.21/14.89/15.55 looks very bearish. Oil (96.32) - 52.15 and 31.34, will go short oil at $109. Copper (314.55) - 192.36 is the trendline, and this week it brokedown all techncials daily chart and had its first breakdown PF wise for all of 2007! IT fell off a cliff! This is money chasing anything not nailed down.....massive pools of liquidity sloshing around the globe! People running from paper assets my ass, this is pure speculation driven by insane levels of paper. Be careful when this party ends, and end it will. West

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