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Author Topic: Economic Charts, Graphs, Figures.  (Read 17270 times)

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Bill Brasky

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Re: Economic Charts, Graphs, Figures.
« Reply #15 on: May 24, 2010, 12:57:47 PM »

So, there will be some gold buying opportunities coming up?

Good.

Maybe.  Your last positive buy signal was early February.  It'll be interesting to see what happens on the challenge of the previous high. 

On the weekly charts, its got bearish signals, probly from coming off that high so hard.  Thats a divergence.  You shouldn't buy in a divergence.  When your price is bouncing off the line upward - like it is right now - and the momentum is still rolling downhill.  That could stall the price action and cause a lower high, break the support (around its current price) and plummet. 

The double-top you just put in, kind of ominous.  Breaking past it will cause a moon-shot.  That why goldbugs and I would differ right here, they'll argue this is a positive place to buy, but it's contrary to the technical signals.  (the divergence I mentioned)

For gold, and I'm obviously using the GLD to track it, I wouldn't drill down beyond the weekly charts.  You want a macro view.  Theres too much noise in the daily view.  Then when the signals look bottomed, use the daily charts to hone a buy price - at that point you'll probably miss the "low" but the low will be established, and thats what you want for those swings that are several months long. 



 

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sillyperson

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Re: Economic Charts, Graphs, Figures.
« Reply #16 on: May 24, 2010, 01:48:42 PM »

I don't own any gold. 
I'm speaking in the wider sense, here of course... GLD, GDX, etc

digitalfour

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Re: Economic Charts, Graphs, Figures.
« Reply #17 on: May 24, 2010, 02:50:49 PM »

Brasky has the Dow thread locked, but I thought this Mises article called "Don't Go with the Flow" was pretty interesting.
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