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Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (28039)	6/7/2012 12:41:50 PM
From: Tommaso	5 Recommendations Respond to of 29622

>>>>That market is so unbelievably volatile...<<<< I find it believable. It resembles the behavior of chickens in a chicken yard with a hawk overhead.

To: GROUND ZERO™ who wrote (28039)	6/8/2012 9:04:13 AM
From: Veteran98	Read Replies (2) \| Respond to of 29622

From Armstrongs blog ...... Gold The Monthly Bearish Reversal remains at 1493 so no broader-term sell signal was accomplished yet.Resistance during June begins at 1632 and scales upward to 1732 followed by 1752. Support lies at 1574. We need to see a monly close back above 1675 to suggest a summer rally is likely. But the major resistance remains at 1800. The closing today at 1624 was impressive, but this is the third attempt to break to the downside with a sharp rally back. That tends to imply that the fourth time is usually the charm. Remember that before a market blasts to the upside, it must get the majority out of the market throwing in the towel with the fake move to the downside first. That implies we may have to just penetrate last year’s low to accomplish that before setting up the sling-shot move to the upside. That is how the energy is created to swing sharply in the opposite direction. Likewise, every investigation of a crash tried to find the short player conspiracy and never has since 1907. The crash comes ONLY when the majority are long. Scare them, and now you have the biggest selling force ever and no bid. That produces the flash-type crash. armstrongeconomics.com