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Strategies & Market Trends : YellowLegalPad
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From: John McCarthy12/3/2009 3:54:27 PM
   of 1182
 
Gold Chart - Jesses Cafe

Gold bullion is nearing our intermediate price objective for the breakout which we have been following since US$1,020 per ounce. Here is the updated chart. Please note that these chart formations set minimum measuring objectives, but not 'tops' as in limits.

jessescrossroadscafe.blogspot.com

3.bp.blogspot.com

Technically gold reached one upside target and is very
overbought. It should correct, and could do a sharp trip to
1100-ish. Prepare your stomach. I've started to unload some
into strength here a couple of days ago, with a goal to unload
1/3 of paper gold while this keeps going, which is about 10%
of what I have. I'll stomach the rest. Even thinking of
some hedges here. The metal has gone wild.

Jesse has a good chart indicating that wilderness. -g-

Message 26147141

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