Hi everyone, my contribution this week is to say watch out for these parabolic charts on the goldies. Much hype coming out of the US about gold hitting a record but it's nonsense for us really because it's only at AUD1350. It was AUD1470 recently and AUD1500 during the crash. Checkout gold stock prices then. Meanwhile production costs keep going up. Sure they have been undervalued and my guess is gold much higher longer term but short term these parabolic charts have a nasty habit of breaking down and the sad thing is the last couple of days give the most dramatic increases. :)
