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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (132473)	10/2/2008 3:31:24 PM
From: Taikun	5 Recommendations Read Replies (1) \| Respond to of 314084

"Gold has failed too break new highs in the biggest credit crunch since the Great Depression " Not sure what you mean. On the weekly charts gold has surpassed 1980s high which was $835. financialsense.com And the monthly close of Sept 30, 2008 is well above $681.50 from the 80's, by over 20% stockcharts.com Thats in the midst of a massive liquidity crunch. Are you talking the intraday chart when gold spiked to $850? No trend is ever derived from intraday charts. Any TA worth reading looks at both daily and weekly and monthly, and gold is at a new high Event the daily close of $850 ion Jan 21, 1980 is right now only 0.5% higher than where we are today. Weekly, monthly is strongly higher now Moreover, in Euro POG has busted higher but we don't have charts back to 1980 for Euro gold-eagle.com POG at 20% above monthly high from 1980 in the midst of, as you say " the biggest credit crunch since the Great Depression" must be recognized for the bullish trend it represents