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

To: dara who wrote (202472)	8/25/2011 8:36:52 AM
From: Veteran98	Read Replies (1) \| Respond to of 312839

Pescod blurb... Ross Clarke and Bob Hoye comments..... GOLD $1769.30 -92.00 SILVER $39.90 -2.43 So far this week has gone pretty well…but I suspect a lot of that is betting on the Fed coming up with something tasty come Friday. The politicians in Washington still seem to disappoint and the worries about recession, both in Europe and the United States seem to grow by the day. Nice to see the bounce back in the stock market but there are still those that are doubters and one of the biggest doubters and biggest gold bugs has been Bob Hoye. You have probably seen Hoye recently on BNN talking about higher gold prices and lower stock markets, but for those who receive Hoye’s ChartWorks with some technical observations by Ross Clark, are probably taking a hard look right now at gold and silver. On August 23rd they put out this rather strong comment on gold and silver. Yesterday they wrote “Today’s bearish outside reversal in gold and silver in the appropriate time window for a top sets the stage for a decline into September. Initial breaks from tops typically take six to nine trading days. Silver should retrace a Fibonacci 61.8% or more of the advance from June; targeting $37.60. Gold should straddle the 50-day moving ($1670) within two weeks. Following and predicting gold, the team has been rather good...they expect even higher prices down the road.