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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (40827)	11/4/2003 8:37:22 AM
From: macavity	Read Replies (1) \| Respond to of 74559

Gold is simply a buy the dip market. When technically it looks a disaster/awful on daily and weekly charts, if we are oversold on monthly and we have not set a lower low and high on quarterly charts , close your eyes, clench your butt-cheeks and pay up. Start adding to on strength (if that is your style). Two months later you can forget all these intraday and intraweek wiggles, sipping cocktails by the pool. A good indicator is that $HUI leads $GOLD to the upside usually so there is usually some warning. For non-USDs here is a weekly chart of CHF. share.esignal.com This was/is the most bearish non-USD/bullish USD that I could find from the ones I look at. Even sterling currently sports a textbook evening-star reversal and the men in suits are meant to be raising rates here this week. Mr Snow told everyone to stop buying the dollar, but all he appears to have done is cause a re-test. I guess it can rally now that everyone who wanted to has now sold - Buffet, Soros and the rest - LOL! I doubt the dollar appreciates fast - but it is no longer a sale on rallies IMO. I have no idea if this means that USD assets are back in vogue, but I guess the money will have to buy something. Maybe US-made furniture ;=)! I actually think it is Mr and Mrs Market pushing the US politicians into implementing trade tarriffs, just in time for next year elections. Mr Snow says "stop buying" and 4 weeks later the dollar goes on a multi-week/month rally vs. the EUR and JPY. This would be pure poetry and would really get things going for the doomsters. -macavity