Now, none of that means anything , we could crash tomorrow in all ANTIDOLLAR, but facts are facts. Trends are up for ANTIDOLLAR.
Friday, May 22, 2009
Would like to see some rally, but may not
Gold, is moving ahead. We thought that we need one more decline in GOLD to go long, see the GOLD asset oscillator few posts below. Well, guess what, right after that post we got a quick retrace of 17 dollars back, but that was exactly top of the daily channel we watched. Now, that was a critical point and I certainly could not ignore the fact that GOLD did not brak down at that critical point and therefore that changed my critical thinking about it. Regardless of what I thought, gold seemed ready to go and I s tarted advising that while one might SHORT TERM test gold at some resistance points, the intermediate trend seems to have changed and after market fell hard, it became even clearer that Gold was to be left alone or ride it if you ar long. I am long in my Assset Allocation at the core level, but not long at the speculative , investment level. Well, you can not get them all. IF Silver also clears the 14.99 then it would joing gold into the uptrend all the way. Needless to say that Currencies are in the uptrends as well.