Wow! Never seen this many posts on the "bubble" in one night. Took me 20 minutes to read everything. Some great commentary out there, some name calling, lots of smug bears and a few angry bulls.
A few comments FWIW:
Yesterday's action, to me, confirmed a genuine bear market. This did not surprise me in the least. I'm a student, and believer in technical analysis, and TA has been calling for a bear market for the last 3 months.
I will also not be surprised to see a "technical bounce" rally over the next few weeks. This bull has been very, very good to alot of "investors", and they can't imagine the party ending. Unfortunately, the average investor doesn't recogniize a bear market until the bear is 2/3 over, and doesn't make a move until even later.
Which brings me to an old trader's law: "The longer a trend has been in place, the riper it is for reversal." This bodes well for the future of gold, Bobby B.
I don't consider myself a trading(or investing) guru or anything- but if you're going to be in the market, you HAVE to know what the primary trend is- or you shouldn't be in it.
Good luck to all,
TW |
