All the technicals are pointing to a short term continuation rally. The charts can give some indication on that front but sustainability of this move or target prices are MUCH more difficult to gauge.
I am not in the habit of making wild predictions and I don't ever listen to any analyst or Guru with their predictions long or short! These are not fundamentals within my control. However gauging likely scenario is about the only tool I have which I can at least control my profit or loss in the process. So the point I am making is no one know the future, they may have an idea and whip out strategies with that bias but to actually believe where price is going because of market crash, manipulation or more stretch fantasies are just poppycock. It discourage risk money from trying to garner returns. That money becomes scared money and finding the safety of cash low return out of comfort zone. If I had stuck to this initial bias in 2012, I would probably have dug my heels in and see bubbles every day as markets makes new high. Well we call it bull trends regardless if they are over priced.
All bull trends are over priced and all bear trends are under priced. If you understand the concept of picking tops and bottoms then you will understand that I also initially fell into this useless and dangerous concept! Never fight the market because they will at times throw you a bone just to keep your enthusiasm alive.
The lesson learned here is always have a flexible view and never think that you are smarter than the market. Skol could have made a packet if he understood the concept that price that kept falling will eventually recover but then again, it is probably not suitable with his timeframe holding period that stretch decades. Each to their own. Now it is fine thinking that long term but being a retiree, surely horizons are limited and the 'smelling of roses' ensues to seek the fruits of one's patience. Bu still I alway enjoy his posts because they are short and to the point. I am unable to post concisely so I can understand if I am posting without a readership. I better stop now!
