Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 659.00

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Nov 21 4:00 PM EST

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To: Chip McVickar who wrote (10827)	10/1/2010 9:53:22 AM
From: ayn rand	2 Recommendations Read Replies (2) of 219184

charts and conventional trading stoichiometry no longer apply in todays current PM market. in the short term PMs are overbought technically, but all bets are off regarding short term targets. it would not surprise me if there was either significant additional highs or significant retracement and consolidation in the near term. the only trend intact is the long term trend, which is very strongly bullish. i would not want to be a PM trader in this market. anything can happen. watch for sharp upward and downward spikes to take out stops and limits. a lot of traders have mistakenly gone short gold because it keeps going higher and higher only to get badly scorched. be careful. good luck. and again, As the famous speculator Jesse LIVERMORE used to say: “After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

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