"As gold headed for the moon in 2011, it was quite obvious that something very bad was going to happen to the gold price if you looked at the charts, but not according to gold worshippers. The same unfortunate strategy is now afflicting the bitcoin devotees."
Gold "worshippers" and bitcoin devotees did very well on those rises as you undoubtedly have with your shares as they continue heading to the moon. It's obvious that something very bad is going to happen to the all time high share market. However, I'm sure you will be nimble enough to avoid calamity.
I value your points of view Skol, it helps keep the balance here, but when "yawl" (as in "you all", not scrawl as you quoted me as saying) start rabbiting on with the chartist mantra like jargon of the true believers you lose me.
If those last 2 charts you posted are supposed to "Wow" us all, they just show me that volatility is rampant and that POG is currently trending down, they don't tell me when and if that will change or not and as your last 2 assumptions based on the charts show, after last nights little jump, Pope Skol is not infallible.
"Completion of a double top. Time to go short"
"Some resistance around the neck line where gold is at the moment. Probably heading south from here."
As AverageJoe says they can be a good tool to use for timing trades, and as Crom Valen says, it is News that moves markets.
