Dear Mr Bird : Re "Actually the POG is in a Bull Market; it has been making higher lows and higher highs since August 1998. Same with the XAU. Fear not.
When this Blow Off Ends and the U.S. Market turns South along with the Dollar, the POG and XAU will rally very strongly. That day is coming sooner than one thinks. The present blow off is actually a blessing for the POG and XAU."
Pray, tell an ordinary mortal, "How do you know all this?" Something that you see from on high, maybe?
When I look at the POG graph, since Aug 1998, I see a single bottom, now, which is incomplete, and falling tops. At the moment, I do see some reason for bullishness in the crossing of the stochastics. But nothing else.
digisys.net
Same scene with the XAU
iqc.com
I agree with you about the link between the dollar and gold but, at present, I can only see a strong dollar. As for the Blow Off ending, with all due respect, I heard that story at Kitco 3 years ago when the Dow was around 5000. I can't see why it is different now. |
