gold, page-26942

LOL BBX....

Someone recently told me that when you read up in MSM stating the very obvious and high profile reminders constantly, the logic is to take the opposite side of the market. Well currently the constant talk is the Syd/Mel property boom or bubble to some. I have stepped on to the sideline as a prudent measure not because I think there is a crash coming but hoping for a correction to get back in with a discounted valuation.

Our SpI200 is hitting the upper boundaries that printed around this time exactly 2 years ago. There is the sell in may from US or Tax loss selling here which has repeated cycles although history is not to be extrapolated to the future. My favourite CSL was a classic case end of last year where it shook my position off as I sold to protect cap gain and when the signal to renter came up I ignored! I like to remind myself not to repeat that mistake but each condition is different!

Current gold spike I suspect is only that. When it settles down we will see how market unfolds. Currently it was an excuse by the big players to take out bear stops and it was obviously deeper than the technical usual method. However if there is continued momentum coupled with a bad NFP number tonight I can see circa 1300 ceiling as the next target eventually.

Prediction is such a farcical game of correctness or bragging rights. Who knows where gold or any other markets are heading to. What is being demonstrated today is the unpredictability of Trump in the midst of entertaining his nemesis. Nothing is ever certain with Trump.