Dow Gold ratio for all of 2010
I decided to put up this morning a chart of the Daily Dow Gold ratio for al of 2010 to the close on Friday, Dec. 17th. As you can see from the chart below, this ratio hit a new 2 month high of 8.5, which was last reached on Oct. 27th. This may be approaching a breakout to the upside. What this means is that precious metals are in for more of a correction and this could mark the beginning of the drop in the Dow as well.
Merry Christmas to everyone visiting my site. I hope to make some changes in 2011 and possibly add video clips of my comments about the market and political commentary as well. Stay well.
Merry Christmas to everyone visiting my site. I hope to make some changes in 2011 and possibly add video clips of my comments about the market and political commentary as well. Stay well.
Labels: 2010, correction, Dow Gold ratio, precious metals
posted by Charles Amico at 6:28 AM
2 Comments:
Charles,
I just stumbled onto your blog this morning! Hey, I am with you 100% on all of your posts that I have read so far. I like the theme of your posts - I wish that I could comment like you, but that's not the direction I should take with my blog - I can always direct my readers to yours.
Even though I share you thoughts, it doesn't seem to be reflected in the market. Is there some sort of manipulation going on? I don't trust any politicians, and like they say, "There is a lobbyiest for every dime spent in Washington" We, the People, don't have a chance.
I have been bearish the last half of this year and it's not working too well for me on my directional trades. My bias causes me to read bear signals into charts and I think some of my anger shows there too.
Maybe we can open up a more direct dialogue?
Jeff
Sure, Jeff. It has been painful being on the Short side of this market. I firmly believe we are headed for a major market drop that will eventually retest the lows of 6,400 and it will not hold there next time. Keep going back in time in some of my posts as I see a SuperCycle wave has formed and we are about to start the decline.
Read my post of Oct. 16th and my post of Oct. 2nd especially, titled "What's going on in the stock market?
Jeff, email me directly if you like after you have read them.
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