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Strategies & Market Trends : Longer-Term Market Trends
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To: SwampDogg who wrote (1620)8/12/2008 11:57:58 AM
From: morokko65   of 3209
 
I think the gold indices have quite a bit of repair work to do. We did hit the multi year congestion zone on the XAU:

stockcharts.com

I think in the last 3 years we have been in the "era of the crowded trade" due to all the hairtrigger hedge fund money, so we will see more "waterfalls & rhino horns" going forward. All the more reason to take a deep breath and look at longer term charts for a more rational perspective
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