the ultimate nightmare ..., page-21

johno

"Siamese, the chart is the chart. Whether gold is being manipulated or not, if it falls through it's bottom channel."

Hmmm if only it were so simple. If all there was to investing came down to a few simplistic charts do you really think there would be a market? Just like with cardcounting in casinos even if charting consistently gives only a marginal advantage only two outcomes would be possible: either everyone would be using the same charts so there would be no market, or even if only some used charts they would quickly wipe out all other investors and so very quickly there would be no market. Either way if charting really is infallible there would be no market as everyone with any money left would be trying to place the same bets.

Charting may well be a useful analytic tool, but its track record as a predictive tool is more dubious.

What happened to gold last night is a case in point.