hello pezz, today's report:
(i) gold up dollar down, gudd for short, but bad for shorters
(ii) boyz are having a debate on gold trends, just in in-tray
player 1: Here is some recent stuff from Jessie, the first on Gold has a nice chart predicting a nice number. I make no comment as to its correctness (yes or no), but here is a quote and the link:
<snip>
Gold has apparently broken out of a big inverse Head and Shoulder formation, possibly an ascending triangle if you prefer that for reliability. In combination, as they often are, this is a powerful sign of buying pressure, accumulation and a sharp rise in price.
The targets we saw on the Gold Long Term chart posted here on September 15 call out a range of targets for this leg in the bull market from 1310 to 1350 level.
<snip>
jessescrossroadscafe.blogspot.com
player 2: not to be too picky, but it is not a reverse h&s. those are only found at the bottoms of downtrends. you could perhaps call this a cup-and-handle, but it is definitely not a reverse h&s..
player 3: u sure? looks more like a bullish elephant pattern to me. see the two big ears and the trunk and tusks in the middle? very rare and uber bullish i am told by chart monkeys.. LOL
player 4: that chart so clearly displays huge set of balls and a very small dick
i cannot figure out what the pattern can mean for gold other then we need to bravely flirt but do not fully insert
because this is not and cannot be the end game
(iii) i am cognizant that i must disengage from my paper gold and wait for better time to reengage with same again. i do not relish the prospect, but must deal with paper gold before it deals with me.
cheers, tj
p.s. gold can go to 500 before going to 5,000 |
