GOLD
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0.51% $1,391.7 gold futures

"The only risk is buying when it is about to correct within the...

  1. SaturnV
    1,252 Posts.
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    12/09/11
    13:13
    Post #: 8947307
    "The only risk is buying when it is about to correct within the bull market cycle."

    Precisely. HC sentiment is a great contrarian indicator for near-term price action. Is the price likely - I said 'likely' - to continue on this upward trajectory for long? If so, for how long? 1 month? 3 months? 6 months?

    Answer - Nobody knows. As I said in my previous post, it was all good in May '06. Gold had soared from ~450 to ~$730. I was mentally spending it in May '06. And then it collapsed to ~$530. What a wipeout for buyers at $730.

    I'll say it again - some pom-pom wavers here are going to creamed.
    Value at posting: $0.00
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    lightbulb Created with Sketch.  Great analysis
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