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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (4417)	4/10/2008 8:51:54 PM
From: TobagoJack	Read Replies (1) \| Respond to of 4914

from one who uses no capital letters quote this is one of the many chart examples that can be used to debunk the 'efficient market' hypothesis, as well as the associated idea (inter alia espoused by Russell) that the market is 'discounting' or 'predicting' anything. it sometimes is, but most of the time it isn't. i'm as surprised as anyone by the strength , specifically in industrial commodities. there's probably a lot of truth in the idea that they are 'anti-dollar' plays to some extent, but be that as it may, the charts continue to look bullish...no-one can look at copper or crude oil and conclude that these are bearish charts. it is btw. astonishing how the skepticism re. various commodities has grown. e.g. the Hulbert index of gold timers stands at minus 17%, which is to say the average gold adviser is telling his clients to be 17% short - with gold 7% away from an all time high. in short, we may yet get that blow-off move in gold... unquote unquote