It could still go lower. I would wait for some type of bottoming tail to show up, and base to build. Remember, the GLD is still overbought on the weekly charts, and that will affect GOLD.
All the blogs I’ve read are talking about the record bullishness to me that’s too obvious the gangsters will see that as well so I wouldn’t put too much weight on that as they’ve made all the negative divergences fail and keep rallying this market.
It could still go lower. I would wait for some type of bottoming tail to show up, and base to build. Remember, the GLD is still overbought on the weekly charts, and that will affect GOLD.
US Dollar Chart
http://niftychartsandpatterns.blogspot.com/2010/12/triangle-pattern-of-us-dollar.html
This is getting ridiculous—How low can this stock go? (GOLD)
I finally went with a spread, on the Sob…
http://zstock7.com/wp-content/uploads/2010/12/gold-12-27aa-600×540.jpg
Wow… we went nowhere today! The volume on the SPY is about 60 million… the lowest I’ve seen in quite awhile.
Thanks… I appreciate that! Happy Holiday’s to you and your loved one’s too.
Red, thanks for sharing your thoughts and comments every day.
Nowadays, just to maintain “good karma” can be considered as being courageous and wise.
Wish you a good and prosperous 2011 and keep up the great work.
New post everyone. The Weekend Update is up now. (Sorry for the long video).
Thanks Leo
Holiday’s were nice. I hope you had a nice time too.
Yes Newbear, I agree… and Merry Christmas to you too.
Merry Christmas red,
All the blogs I’ve read are talking about the record bullishness to me that’s too obvious the gangsters will see that as well so I wouldn’t put too much weight on that as they’ve made all the negative divergences fail and keep rallying this market.