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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (52867)	7/14/2013 3:35:36 PM
From: Zincman	Read Replies (1) \| Respond to of 219128

Nice. Tx 50 Fib of 1050 ish looks probable... still.. ;)

To: GROUND ZERO™ who wrote (52867)	7/14/2013 9:54:10 PM
From: Jopps	Read Replies (1) \| Respond to of 219128

I would be careful. The precious metal flop was not just the result of trend breakdown, there are fundamental forces at work here: 1. The faster than unexpected slowdown of Chinese GDP. 2. The uptick in the US market (not to mention better than expected housing numbers, job numbers, private payroll numbers). - Investors haven't pulled out money from the PM's, just switched it to the booming stock market. - Spare a thought for the bond holders who are getting hammered. 3. The drop in value of the Euro, Indian rupee, Aussie, Canadian dollars, concurrent rise in value of the Chinese Renminbi. - The Indian Rupee devaluation is negative for PMs since Indians are big purchasers of gold. - The rise in Chinese currency signifies a tightening of credit in China (for better or for worse). The Australian dollar has followed the fate of PMs over the last few years and it is a good indicator that the PMs are finally turning around.