Showing posts with label End of Gold bull market.. Show all posts
Showing posts with label End of Gold bull market.. Show all posts

Thursday, November 11, 2010

Bearish Rising Wedge - GLD Intraday

Bearish Rising Wedge - Intraday GLD alert! 132 Downside target.

The risk trade is to be outright long gold here. There is need to have a hedging technique because people forget that gold is sort of useless and can fall as fast, or faster than a hyped up multi-billion dollar, no reveune, no business model, 2000 tech stock IPO. I am still a believer in the Gold bull and don't believe it's over, but I also know and realize Gold is nothing more than a measure of global psychology - the adhesive to global economics. We all share it around our neck, on our fingers, or as keepsake tokens, or maybe you have a vault with some gold bar pyramid stacked in the corner, but in the end, when the global psychology changes toward it, it will fall and fast!



A gold correction can happen faster than any algorithm can chase it, watch!!