John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Cogito Ergo Sum who wrote (11935)	2/18/2009 12:58:25 AM
From: John Pitera	Read Replies (1) of 33421

Hi... the mythical Black Swan -g- a close relative of mine used to comment that the third time is the charm and that a pattern that hit's a ceiling or resistance point the third time tends to take it out and head higher. One could make a case that Gold could need one more bigger hit down towards $700 prior to it inexorable climb to 4 digits and beyond. Since we have so much Government involvement, machinations, manipulations and stipulations it's tough to discount the government's (at this point our global governments's) ability to play havoc with supply and demand and rational market action. My experience and analysis, says the Global Governments are not quick and adept enough here to keep Gold from rocketing up to the 1240- 1325 level without even generating a "negative carrot" for this. In this era of politically managed economies and politically managed money, we may not always see "Adam Smith's" invisible free hand of a laisez-faire economy triumph in many of these situations. I personally feel that Gold Pushes has legs in here and it takes the Government to cut those legs of appreciation off. John

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