Gold, Oil & Indices (Equity & Bond Indices)

gold gone crazy, ft said dumb money in.

Dave, most likely s&p will test weekly trend line from 09 before reversing again.
gl

thanks dave means alot:) gl/gt:)

Dave.. here it is.. that's how i got my 1650:-).. but allowing for experimental error it's 1715:-)

p(t) = 1978.2 734.8 (2011.573 t)0.36 {1 + 0.024 cos[16.5 ln(2011.573 t) 36.3]}
where p(t) is gold price at the moment t

(ref Fig 8)

jacek, I don't see any price target in your link, only timing commentary.

I have read many reports on prospects for gold inc Prechter's opinion in 2008/09 that gold was topping and a bad play in a deflationary environment. Other well known gold buffs were agreeing and others were calling gold to $3000. While Prechter and co were calling short all the way up from the 24th Oct 08 corrective low I was making very good money playing long. All these analysts are intelligent people.

The lesson is to trade what we see ourselves on our own charts and stick rigidly to our own systems and "edges".

I have been long gold on the higher timeframes since 2003 at c.$370 level. I played the ABCDE short in 2008 and then got my ass long again. Often I will hedge long position by playing the corrections short. This is how I trade and not interested in the many fundamental opinions out there for gold. Gold is a very special beast and its correlations change. Broadly speaking it likes to follow stocks but the recent example of inverse correlation is typical of its safe haven quality.