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The Chart That Tells You All You Need To Know About Gold

mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
in Precious Metals
The Chart That Tells You All You Need To Know About Gold
Charts Shmartz

Coin's for sale/trade.


Tom Pilitowski
US Rare Coin Investments
800-624-1870

Comments

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I wish it were that easy. The same guy who put that chart together called the gold bull market dead in mid-2009 at around $935 gold....based on that same chart.
    He said his Delta Turning points led to no other conclusion. Of course, he was terribly wrong and missed the next major upleg to $1225. Don't know if he
    ever get on board again after gold surpassed $1225 as I stopped reading his articles. The huge width of his turning points (up to a year or so) doesn't lend itself very well
    to trading. I'm surprised both Sinclair and KWN posted that to their sites.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • cohodkcohodk Posts: 19,095 ✭✭✭✭✭
    These turning points are not influenced by the Federal Reserve or any government activity

    Not gonna win a lot of votes in this forum.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • VanHalenVanHalen Posts: 3,955 ✭✭✭✭✭


    << <i>The Chart That Tells You All You Need To Know About Gold
    Charts Shmartz >>



    That's a nice chart! Can't wait for the next LTD #4! It starts this year on my birthday (09/18) and runs through (07/16/14). In that range (which is admittedly very wide) GLD will hit $2,000 for the first time ever! WooHoo! image

    I have fond memories of the last LTD. Best Ford I ever owned. image
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    Very interesting !!! image
    Timbuk3
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Will be interesting to watch, but frankly, I do not put too much faith in this. Have spent too much of my life working with statistics ... and the only thing I have concluded can be summed up as follows....."Statistics are like a bikini, what they reveal, is very revealing - what they conceal is vital."

    Cheers, RickO
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>."Statistics are like a bikini, what they reveal, is very revealing - what they conceal is vital." >>



    That has got to be the best summation that I've read about statisticsimage
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,820 ✭✭✭✭✭
    Here's a chart that even cohodk can endorse: Exter's Pyramid and the discussion on gold backwardation.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>Here's a chart that even cohodk can endorse: Exter's Pyramid and the discussion on gold backwardation. >>



    Gold foward rates are now as low as anytime since the months of Feb 2010 and Jan 2009. The briefly went negative for 3 days during November 2008.
    Considering that Libor makes up part of the gold forward rate, and now there's concrete proof that Libor has been rigged for years, what does that say about the Gofo's? image
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • DolanDolan Posts: 129
    "...One chart showed a beautiful upward breakout from an inverted head and shoulders (a very bullish formation). I showed it to a chartist friend of mine who practically jumped out of his skin. 'What is this company?' he exclaimed. 'We've got to buy immediately. This pattern's a classic. There's no question the stock will be up 15 points next week.'

    He did not respond kindly when I told him the chart had been produced by flipping a coin. Chartists have no sense of humor."

    -Burton Malkiel, A Random Walk Down Wall Street

    Using a chart to invest is like using your rear-view mirror to drive forward.
    Regards,
    Dolan
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