Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (43) | Ignore Thread Prev | Next
Author: MDCigan Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 41313  
Subject: Re: Gold - Intermediate-term bottom? Date: 2/6/2013 1:58 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 3
Too early to call it, but looking like a good call so far.

Anyways, pretty good sized symmetrical triangle has formed with the uptrend line off the May low and connecting all the subsequent lows and the downtrend line off the fall 1800 top and all the subsequent highs. Resolution should take place in the next week or two. If I had to guess, I'd call for an upside breakout, but either way from a trading perspective, you go long the upside breakout, or short the downside breakout. Upside targets would be 1750 and 1800, downside targets would be 1640 or perhaps even a full retest of 1525-1535.

In terms of the 1.5 year 1525-1535 to 1800 range, Louise Yamada's lines are in my head. "The wider the base, the higher in space", and the "longer the top, the steeper the drop". Whichever way it finally breaks should be good for an an absolutely massive move in that direction.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (43) | Ignore Thread Prev | Next


2013 Feste Award Voting Begins!
Who will win the 2013 Feste Award? Vote now for the Fool that most exemplifies the Fool Community mission of Learning Together!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Berkshire Hathaway

Reestablishing the Middle Class
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.