Of Gold Extensions مقياس إمتدادات الذهب
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
I wasn't in cable at the time.
There was a much smaller, but roughly corresponding jump up in EUR/GBP at a similar time.
OTOH, I rarely make money betting against Catnip, so he's probably right :-)
Something I've learned the hard way.
Hope I've learned, anyway.
May be amassing strength for another attack next week.
He couldn't do worse than I am doing.
I would repeat my question: Is there any specific reason for this timing? (which was early Q4).
http://news.bbc.co.uk/sport1/hi/football/world_cup_2010/matches/match_61
Unlike gold (which has mystique, and jewellery value, but not much else, unless perhaps you are a high-class dentist :-) ) copper is a real-world element with some excellent properties which will probably always be useful.
I can remember (and have quoted this before), before digital cameras, when everyone still used film, people in the photographic industry worrying about potential shortages of silver (used in film).
Well, nobody at that point, foresaw the digital revolution. I don't know if it directly contributed to any drop in the price of silver (I wasn't following the markets in those days), but it must have made a difference.
Possibly the same could happen with copper, but I doubt it somehow.