Jacko

I'm not a chartist or a trader- I hold gold and do so for insurance reasons. I look at fundamentals... However, I'm interested in patterns (as an artist of sorts, they interest me greatly). The image i've uploaded is my first attempt to annotate a chart (also my first attempt at uploading one to this site, apologies f it doesn't work!!) The blue lines show the bullish movement, the thick ones are my attempt at the general strong uptrend with a secondary higher up trend in thin blue. I have shown three steeper channels in dotted blue which intersect the main trend pushing the price up into the higher secondary trend on two occasions- the last one being the recent surge to around 1200. I have added Pixl8r's consolidation lines in thin red because I like them! However I've added one more of them on the latest peak (Sorry Pixl8r!) as it coincides with the upper trend line just as in early 2008. I have also highlighted the pullbacks which happen at both upper trend lines. They all have similar rates of decent, and the three which happen at the end the steeper channels follow similar consolidations don't recover very quickly. Are we headed back into the longer term channel or is this our new support...it wasn't last time... There is a lot going for gold at the moment and we're still in the steeper uptrent (just)- also there are big buyers out there at around 1050- Does this chart mean anything at all?? Do any charts mean anything at all- Love to know your opinions. I'm not selling either way.

A pull back to the mid 900's and silver to around $15 mark I reckon, but no lower. However when I get an idea like that in my head it usually bites me on the ar*se!* I'd like to see the dollar up a bit too before it's next leg down- but that's for personal reasons! *See what I mean!

I've got to say I can echo that, in the traveling I've done outside the so-called 'West' I have found a greater sense of cooperation and community and there is an inner happiness that comes with that kind of human interaction. Now I'm acutely aware that when I am in these countries I have a privileged position beyond 99% of the people who live there and when I am back in London I live in comparative opulence (not to some of London's standards) but I do notice an inverse correlation in community 'happiness' and cohesion and credit expansion. This may have something to do with the intense competition between us as individuals that the expansionist monetary policies of the 'west' seems to produce. I have noticed a slightly more 'human' side to people since the recesion started though- maybe it's me but people seem to be getting little kinder to each other with all this belt tightening- Anyway wrong thread.... Sold some silver and a bit of Gold this weekend- looking for a small dip- very much in the game still, also looking at a small rally in the Dollar. IMF sale thing rears it's head at the opportune moment again I see!

Looks like GBP to me at a first glance. Might not be the best indication of where Gold is heading in general as the price movement of Gold in Pounds over this time period has been effected by the wild ride that pound has taken over the last year. Having said that, I can see a good deal of pressure on GBP due to QE, 0.5% rates etc...so the assumptions made about this chart could be correct...I certainly hope they are...but that could be due to £ weakness rather than a general move in POG. I'd like to see the same chart with the action in $.

Ker's turned bullish? He seems to be a pretty good contrary indicator....When the last bear turns Bull etc... Time to sell!

Right, I'm beginning to worry now- Just been wasting some time on some silly internet vids and started reading the comments bellow this one. Scoot to the bottom and read the last six or so posts- This has got to be a sign of the recognition of Gold in the public mind- Mania phase here we come? http://www.glumbert.com/media/goodcop

I'd say we're at the first stages of media/public attention, right on cue at $1000. Still a way to go in this bubble and not at mania stage as yet- There will need to be a sustained and commited media campaign to really get the public money rolling in IMO. I'm still in and will be buying more quite soon I think.

"Are we still expecting some kind of correction (not only back below $1000, but maybe quite a bit lower -- sub-$950, say) in the shortish term, or do we think that it's time to jump aboard before the PM Express leaves the station heading for new and even more fantastical pastures? unsure.gif" I would say short term we could see a dip bellow $1000, however, we haven't had a sizable 'correction' yet in this bull market - even when the 'experts' have been calling one. Long term we'll see 1050-1650, I don't own a huge amout of Gold and Silver but enough for me for TTB. I bought in at about $850, I'm aiming to double my money. I'll be buying more if we have a pull back but I'm not hoding my breath for one. I'm not making the mistake of trying to play the market- I've been slightly burnt once already. Fundamentals are still strong for GOLD/SILVER.

Up and down quicker than a ho's nickers

Awight! Errol I was wondering when you'd make you're way over here...it's n ice here....nice and safe

That's the one, cheers GF- I would say we're at around the end of phase two 'Awareness'. We've had our first sell off, but not the media attention. That may happen at $1000, it may not, we're still a little way off mania IMO.

Yep - 'Pissing the night away, pissing the night away' That's me alright!

*Italian Accent* Hey forget about it, They're Fugazees anyway!

IMO When it hits the news big time we're into phase two. We're still only at the beginning. Now where's that speculative bubble chart knocking around?

IF......WE......CAN.....JUST.........KEEEP...........GOING..............Arrrrrgg ggg!