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"Gold Still Bullish" Spin Drs

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Pillar of the Community

United States
1590 Posts
 Posted 12/19/2011  12:20 am Show Profile   Bookmark this topic Add jmkendall to your friends list Get a Link to this Message Number of Subscribers
I don't honestly know where Gold is going.

My point has to do with a number of "experts" that point to the long term charts that all show an "upwards trend" or Upwards trend line".

At its simplest it seems they take a base point at $32/ounce and take a line to its current price and the put an arrow on the end and "viola", you can plainly see it is in "a 30 year" uptrend.

Well duhhhh. What that also means is that unless Gold falls below $32/ounce then it will ALWAYS be in a long term bullish posture.

Now that sounds more like propaganda and not market analysis.

That is kind like saying that someone falling from 10,000 feet is alive and uninjured during 99.999999 percent of the fall. So who needs to worry about that last 0.0000001 inch?
Rest in Peace
biggfredd's Avatar
United States
9104 Posts
 Posted 12/26/2011  02:29 am  Show Profile   Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
I remember back during the 1979-80 run up, the "experts" predicted a high that was twice the current price. It was kinda comical how it kept changing as spot got higher.
Pillar of the Community
poboxw's Avatar
Canada
1502 Posts
 Posted 12/26/2011  7:49 pm  Show Profile   Bookmark this reply Add poboxw to your friends list Get a Link to this Reply

Quote:
That is kind like saying that someone falling from 10,000 feet is alive and uninjured during 99.999999 percent of the fall. So who needs to worry about that last 0.0000001 inch?

odd analogy. works only if the end is a sure flop.
There are technical guild-lines to drawing trends from long or short term data. Can't claim to know the finer details (yet), and I'm not saying there aren't seemingly ridiculous bullish (and bearish) predictions, just pretty sure that it's not as simple as drawing a line from 32 to the current price. Just another thing on my reading list (http://goldta.blogspot.com/2011/01/...silver.html)
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