JohnoQuietly confident is all. History repeating itself?A bit...

Johno

Quietly confident is all. History repeating itself?

A bit off topic, but this thread has already drifted somewhat, did you notice the action on the Dow last night? The PPT very active in the last hour and a half to make sure the weekly close was not below 10,000. There was panic developing prior to that sudden turnaround.

I don't think it fooled many, but it has bought them the weekend to get battle ready for next week.

The 200day EMA provides fairly consistent support for gold. we are almost there in $US and seem to have made a perfect bounce off that average in $AUD.

As for SLR you have a perfect touch off that same average. It is still very much under pressure and may enter a long period of consolidation. Look at the weekly candlestick chart and notice the long-legged doji - is that a reversal in the wind?

What happens if it doesn't pan out? If gold goes lower, I'll buy more. That's a no brainer. It's the best saving plan I know: Buy gold when it is in a technically oversold condition in your local currency. You are then buying real money when it is on sale.

At the end of the day Johno, we are all just guessing, No?