Tuesday, June 11, 2013

Ugly Chart

I have a daily chart for GLD below over the past 3 months.  Does not look good.  A perfect cup and handle has formed.  A break below ~$130 signals the next downdraft, and measures out to somewhere around $117 (which means about $1,200 in the metal itself).  Basically, we are at the level where we find out what comes next.

at
Labels: ,

Broken Money

The subtitle is Why Our Financial System is Failing Us and How We Can Make it Better , and the author is Lyn Alden (2023). I feel like I hav...

  • In a Nutshell
    In his most recent post , Michael Pettis explains the problem of investment misallocations and too much debt, simply yet brilliantly (his po...
  • Days Like Today
    Are when the contrarian should think about buying.  And so I tried.  Some AUY LEAPS (filled) and a small mining services company that I like...
  • Counter Factuals
    I am reading another book right now by economist Richard Koo, innovator of the balance sheet recession concept.  If you remember what his id...