Friday May 10 2013 Posted 8:12 AM CST
After hem hawing and doubting myself, I had it right two weeks ago.
Gold dropped $20 yesterday and today makes $55. So our original thinking was apparenlty correct; that a fifth of the large third wave down is udnerway. Notice oil has joined in the fall. Recall I wondered on this blog why oil was as high as it was. Interestingly this seems to have completely escaped the notice of those enthused about various shale plays in the US. If this analysis is correct it suggests a final target for this move below 1300 for gold.
If oil starts to follow the waterfall decline in gold, the Shale Boom will be in trouble. Is gold starting a world trend of a giant deflationary collapse?
When I'm looking at the $USD, $GOLD, $SILVER, $WTIC, Major Indexes ... then $SOX.
I can think of a word ... 'obscene'.
REGARDLESS
Thank You for sharing your ... Insights-and-Experiences
Posted by: Farley | May 10, 2013 at 02:22 PM
A wild day, oil down 3 bucks and then coming back at the end of the day to near unchanged
but as Curley would say in City Slickers
The day ain't over yet!
Posted by: Dennis Elam | May 10, 2013 at 02:31 PM
I forgot to include the Bonds ... BUT
Am I the only one thinking ... Bernanke is a new term for Porn-Star?
Posted by: Farley | May 10, 2013 at 02:36 PM