Re: Market Action Diabullic
in response to
by
posted on
Mar 05, 2008 10:19AM
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I'm a little hard of Frank. I think it's ok though. If you put yourself out there by charging for a newsletter you open yourself up to critisism.
Where I think Frank is missing the mark is that I don't think his technicals are accounting accounting for a different phaze in gold investment.
His data tells him that this or that technical has never remained in a certain territory before without pulling back. That may be true, however, it may well be that as gold (or other metals) starts to catch a broader and broader following we'll see these technicals extend their upward stay. Also, some technicals are a factor of both price or volume and time and thus the indicator could drop without seeing a price drop but as the price lurches higher or remains high for an extended time.
It would be unlikely that gold will not pull back at some point so if he hangz in there long enough he'll be proven right. He will have missed a lot of gains though particularly on juniors which are starting to show the kind of explosive life that they have in previous years runs.