I think you will find that BW was thinking of a lower price than $390. Someone mentioned $350.
There is a sharp distinction between him and me when presenting data.
I tend to think that Gold is ok just now even if there are some retracements.
I also present the negative view by presenting other TA's negative comments. However, I don't necessarily agree with all of them.
I do have the occasional negative comment as well. TA is a tricky business when used for Gold due to sudden changes of parameters and interference. ________________________________
BW only has a negative view at any time and is therefore biased. His borrowed material is all negative.
But he goes further than that: He wrote: "The HUGE WARNING IS HERE. On the bullish side Tim Hoogard did predict that oil would not fall below $40.00 and has a target of $89.00. Does a switch from gold shares to oil shares make sense?"
I wrote: "Not according to you; after all, you mentioned $30 for oil. So why would you buy at the current price of $44.18 per barrel if according to you it is going to be $30 shortly?"
Thus when challenged, BW says this: "If you carefully read what I wrote you will notice the question about a switch from gold to oil was based upon this chartist's current analysis, NOT my views about gold or oil. Obviously if Tim Hogaard is correct and oil stays above $40.00 while the US dollar rallies 10% then during that time oil shares should outperform gold. Do you not agree?"
There are too many rhetorical questions and somehow an absence of responsibility IMHO.
There are quite a few who hold gold stocks. There are hundreds of millions of dollars involved. I am not prepared to tell them one day: "Sell", then a week later "Buy" followed by some panicky remarks in between. (Note, I don't advice).
Instead, I do some original work now and then but read as well.
NB: If oil is going to be $89 then I expect the USD to dive and gold to shoot up. That is contrary to Tim Hoogaard's advice.
Gerry Readers, please do your own research and you decide if and when to buy, hold or sell any stocks. .
