The 10 year gold chart is parabolic, it reeks of danger, I prefer a more prudent approach to my wealth than gamble on the POG.
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This is a 10 year gold chart:
Attachment 3430
This is a picture of a parabola, from which the term parabolic is derived:
http://en.wikipedia.org/wiki/File:Parabola.svgAttachment 3431
http://mathworld.wolfram.com/Parabola.html
like the XAL??
http://chart.finance.yahoo.com/z?s=%...n-US®ion=US
See if this looks like gold, you should stick with it though.
www.chartpattern.com/parabolic_curve.html
Hah! You win this round (always happy to concede when I'm wrong)
Dont go doin that Trackers. The only thing that keeps this thread going and going is that nobody admits defeat and when an argument is countered the original point is either deviated from or repeated again and again and again.
By the way, I made a perfect parabola last weekend on the back lawn after deciding to drink beer instead of doing research for Skol :D
Yeah, some bad things happening in the world all right and the best gold and silver can do is go downhill, which means the party's over.
A lot of it's crass stupidity, it's no wonder suckers go broke. I read a story in the WSJ a few days ago about 3 school districts in Wisconsin that had collectively $45m in the bank. To ensure they had sufficient funds for future liabilities, in 2006 they borrowed an additional $155m from a German bank (Depfa) and invested the lot in Collateralized Debt Obligations. The CDO's are now worthless and Depfa Bank wants their $155m back.
Looks to me like commodities might be in for a bad stretch, this means the NZD and AUD are about to decline, could be the USD is set for a comeback. Lots of debt problems emerging in China too and property values declining rapidly, good place to stay away from. Corruption's rampant there and what you read will be the tip of the iceberg, so the USD could be a winner. The WSJ had an article the other day by one observer that reckons from about now the USD is the place to be.