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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: ItsAllCyclical who wrote (30626)8/17/2011 9:05:42 PM
From: gold$10k  Read Replies (1) of 48092
 
I thought that the article showed the conflicting possibilities that could be read into historical price patterns. It talks about patterns possibly leading to gold at $5000 and also GDX much lower a la 2008... but gold also dropped 30% in 2008... more than 25% just in October 2008. I don't know. As a contrarian, I don't see any relative bargains right now... nor does Louise Yamada in this previously posted video.

Around 4:20... one of the interviewers says, "It seems like gold is the only thing you kind of like but that's due for a consolidation and other than that we're seeing a lot of weakness and a lot of stuff that shouldn't be happening happening. Does that encourage you to get to the sidelines?".

Louise says, "Yes, it does encourage me to get to the sidelines."

finance.yahoo.com

Benwood asks, "Gold's MACD is higher than any time since before 1980.. does that bug anybody?".

stockcharts.com

As a contrarian, high MACD and RSI definitely bother me... and gold's price is way above even its accelerated channel, but I need hyperinflation insurance. 33% PHYS is that "insurance", but I also have put insurance on my "insurance". I'm not trying to make money... just hold on to what I have.
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