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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: PAUL ROBERTSON who wrote (82903)	3/5/2002 4:32:47 PM
From: E. Charters	Read Replies (1) \| Respond to of 116998

Charts tell you were its been. So how do you tell where it's going? I take it you do not subcribe to the random drunken walk theory of price variability. EC<:-}

To: PAUL ROBERTSON who wrote (82903)	3/5/2002 6:33:42 PM
From: Zardoz	Respond to of 116998

Guess you had better pick up a good chart book that might allow you to guess more acurately. I was just curious as to how far you'd take your little spat with me.. Now to clarify ME. People always say GOLD is the ultimate store of Value, that it's the BEST safe haven currency. And then they pull up a chart and say:" see its pattern suggests further increases". Well, tough. Because I don't use chart pattern analysis for certain things {EXCEPT on a very short time frame} and those 'things are currencies. Years ago when I made one of my first predictions on Gold price, it was based on economic data from the USA, and relative currencies that had a tracking correlation {not patterns}. And then I applied those trends in data to predict the future action of Gold. Others used supply & demand, and still others used chicken entrails. So if you are looking for a large trend pattern for GOLD, then you are basing your analysis on faulty patterns. WHY, because a while ago the G4 agreed on setting ranges on their prime currencies and to use Economic money supply to achieve those ranges. Any analysis you make now must incorporate this idea. TA of equity stocks works, because people use it... Random walk theory is based on early outing of the TA group. But any bad warnings are grounds for collapse of equities. So when you say I should get a good chart book, you are only looking for short term signs in GOLD market.... and look how today; shortly after your post, the pog moved counter to your thinking. Gold is a currency, Gold is a store of Value, Gold is jewelry... but it must answer to the supply/demand status.