Everyone knew about the 1929 bust, and everyone famously called bottoms all the way down. Just because all know doesn't mean its all priced in. Bear mkts slide down a "hill of hope".
Yes, I have to agree.
IF the market looses another 20%, it will be on the same themes, just new information.
The big killer at the moment is the inflation rate, oil is a large cause, not to mention, food prices.
Heck, even a country like China is barely experiencing any "real" growth, it's simply all being gulped up by inflation, lucky for them, it includes demand driven, for Western society, it appears all cost-push.
The staglfation issue is causing a real bungle, I will love to see how they plan to get out of it, other than recession............of course, statistical manipulation is never off the cards
If recession "officially" occurs in the US, will be interesting to know if expectations have already factored it in........
Rough Silver she's drop 25% in 6 months(equity markets) you think she will drop another 25% in the next 6 months? Probably not but if is does it will be on NEW themes, NEW twists.
I think its more likely going to be NEW NAMES.
Yes, I think the sectors I mentioned are not close to bottoming yet.
Hi here's a good site on some gold stocks
http://www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_June/BGFGoldSector2Junefinal1.pdf
thx
MS
As he says in this video, it ain't the fundementals that are the primary drivers of the markets, it's perception.
In the short-term.
In the longer term, the market will at some stage, move somewhere near it's 'intrinsic value'.
Perhaps.
The market will do to it wants to.
"He who lives by the crystal ball must learn to eat glass.... just ask MRC & Co's dentist"
In the 20 years that I have followed markets, I have never wintnessed markets reach an equilibrium, but rather are always passing through an equilibrium until they reach an extreme up or down.
...maybe the direction of oil is especially critical for deciding which way things go.
Ah, found the latest from WP which had us in a Wc heading lower towards $845.Or, what wave are we in that's going to drive us into the 700s? Must go back and check.
Cr.p!! I have every right to be excited because I am short and trade going as I planned. What has been confirmed tonight is that Gold is going lower in the near future before it moves higher again. 3 waves always ubfold agianst the one larger trend, therefore the last low at 845 will be taken out.
HUI and XAU taking very similar shape, as you would expect. Two distinct support levels. Perhaps corresponding to POG $860 and $840 aproximalimente?
The HUI's looking a bit head and shouldery there. eeeeek.
Just on S&R would expect those levels to hold all things being equal.
'Fundamental' changes such as Oil retreat, USD strength, Interest rate rises, the world starting to love each other, etc, may conspire to send everything lower.
Or, what wave are we in that's going to drive us into the 700s? Must go back and check.
You're assuming break up I assume? I'm on the fence until it proves itself. Getting exciting though. Big coil like, triangle type thing developing.The power building and volatility is going to see a very strong move on the breakout.
You're assuming break up I assume? I'm on the fence until it proves itself. Getting exciting though. Big coil like, triangle type thing developing.
Here's another gold chart also indicating current support with the next level down perhaps.
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