Gold is building a classic head and shoulders formation and the head is now being formed as we speak.
Now, really, Mq, was that really necessary?
I thought I read a post of yours sometime back in which you decried TA as some sort of Haitian voodoo witch doctory, a notion with which I agree wholeheartedly.
Ha! You didn't think I'd notice, did you?
Head and shoulders, my, my. You didn't think anyone would catch that ironic chestnut, did you?
You wouldn't recognize a head and shoulders formation or a teacup handle or an Albanian candlestick if it bit you on your derriere.
But, then again, I wouldn't either as I don't follow the TA world much except for some very general points.
As I have been trying to tell Jay, nothing goes up in a parabola forever, good investments go up, take breathers, retrench, go back up again, backfill, etc., until, lo and behold, they have arrived at a level which is very profitable.
But it takes time. Parabolic runs are not sustainable, they are dangerous because they result in falls which are just as anti-parabolic as the rise. As an early investor in Q, you are not doubt well aware of this brutal and inexorable phenomenon.
Caution, caution, and more caution is the key when bubbles are present as I believe they may be forming in gold and certainly in Chinese markets. When euphoria reigns and everyone is a genius, when champagne corks are flying, when voices are louder, shriller, more certain and less thoughtful, r then it is time to sell.
I hope Jay is not upset with me for saying and emphasizing these truths but I think it is imperative that we tell each other the truth about our views; sugarcoating sucks except in the candy trade.
Which bring me back to your shameful TA 'head and shoulders' comment: Mq, at least put a grinnie thing next to those comments as it requires very specialized antennae, with lots and lots of MIMO, to know that you are joshing when making such statements. |
