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

To: dara who wrote (201641)	7/28/2011 10:20:11 AM
From: Veteran98	Respond to of 313046

Ross Clark has been pretty good in his assessment of the markets , better than most imo.... Pescod blurb yesterday.... One beneficiary of all this uncertainty of course, is the ongoing move in gold. It has now had a record run over the last few weeks, hitting ever new highs and I suspect as long as there is concern about Washington, about the only real safe commodity anywhere is gold. The senior gold stocks have done okay today, but the juniors did not participate. Meanwhile, one of the services that has been doing a fairly decent job of predicting gold...had they been right, is suggesting ever onward and upward, Bob Hoyes ‘ChartWorks’ along with partner Ross Clark, writes today on gold: “We recently mentioned targets of $1635 and $1670 for gold. These are based upon the depth of the triangular consolidation from May 2nd. The kiss of the lower 50 and 55-day Bollinger Bands and the generation of Springhood buy alerts (blue crosses on the chart) two weeks ago indicated that the market was ready to attempt an upside breakout. Over the years, breakouts of triangles and wedges in gold have provided an excellent means of measurement for interim rallies. The minimum target ($1635) is based upon the depth of the most recent correction prior to the breakout. The optimum target ($1670) is based upon the depth of the entire consolidation and the extended target ($1750) id 161.8% of the entire consolidation