Posted on 10/23/2006 7:31:57 AM PDT by Toddsterpatriot
NEW YORK (MarketWatch) -- Gold futures fell early Monday, pulling other metals with them, as oil prices again retreated and the dollar strengthened ahead of a Federal Reserve decision on interest rates.
Gold for December delivery was last down $9.20 at $587.30 an ounce on the New York Mercantile Exchange. On Friday, the contract lost $6 of its value although it scored a modest gain for the week.
The metal was hurt by weak oil prices after the Organization of the Petroleum Exporting Countries' production cut failed to convince oil traders it would be enough to halt a slide in prices.
"The rally of late last week appears to have been a one-day wonder, for the strength that developed Thursday vanished Friday and remains 'in-hiding,' " said Dennis Gartman, editor of The Gartman Letter.
(Excerpt) Read more at marketwatch.com ...
Dead on what?
What do they predict?
Be specific.
You forgot whisky.
And coffee - I think that's the #2 commodity, after oil? We don't make it in the U.S. Yeah, I know about hawaii but it's pretty pricey stuff and not much of it.
that gold has bounced off that lower green channel line and is probably back in an up trend.
"Bounced off the lower green channel?"
"Probably back in an up trend?"
"Probably?"
LOL
That's not remotely specific. Specificity is in Giant's Stadium, you're in the LA Coliseum.
You can make quite a bit of money in markets if you are able to trade in situations where you are correct about probability.
If gold broke below that green line there would be a higher probability that lower prices would occur. None of this is exact science but millions of dollars are extracted from markets every day by individuals entering and exiting trades based on channels and trendlines.
In my part of farming Pennsylvania, I've seen prettier horsecrap than that.
YOU. ARE. NOT. SPECIFIC.
And an equal number of millions are LOST.
Flip a f**kin' coin.
Who made that chart, a four year old? It's one of THE worst looking charts I've seen in 40 years!
No, it's not an "exact science", but what you just said contains more hedging and flip flopping than a John Kerry speech. LOL
Missed you. Welcome back.
Hugs for you and the lovely Mrs.!
Gold will go up.....unless it goes down. Get my broker on the line!!! LOL.
Excellent summary.
Could you please provide us with an example of an "adult" chart for comparison purposes.
It is a specific rule to buy in an uptrend. That chart showed the price uptrend, specifically. It is called a straight line.
The rules are specific, the results vary.
It is a specific rule to sell if a trend line is broken. The chart showed a specific uptrend. The rule is specific.
Why not try to understand complex financial principles instead of flaming conservatives here?
I don't give a pretty Pennsylvania pile of horsecrap about your yankee northeast blue-state criticizing of specific, conservative financial principles. No wonder your socialist Northeastern states are dominated by Democrats.
Margin trading on gold futures using technical analysis is a "specific, conservative financial principle?"
Good grief.
Why not try to understand complex financial principles instead of flaming conservatives here?
I laugh at them because I understand them.
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