Daily Archives: June 18, 2010

GLD Will Peak at 136 (by George Rahal)

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The image below is of gold and three established bubbles,  the Nikkei in the
80s, the Nasdaq leading up to 2000, the Shanghai Composite Index leading
up to 200
7.

In the charts, the boxes are equal in length. I took the entire length of a strong leg and doubled, or tripled it. This worked very well at picking tops. This analysis yields a peak at 136 for GLD, which is only 10.7% higher than today's closing price. 

The peak may occur
when the European bank stress test results are announced late July; sell the
news. 
It is no accident that shortly after the announcement in the evening of 6/17/10 of a specified time period during which the stress-test results would be released, gold definitively broke out of its previous highs. The long term target following the 136 peak is 68.

Quadruple Witching Bar

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Well, today was pretty much a bore – – and good thing too, because I'm at my Tahoe place and am somewhat out of my element.

I'm going to be spending the rest of the day with my family……..so enjoy the weekend, and let's thank our lucky stars another OPEX is out of the way. Incidentally, I'll be speaking to the Sacramento MAP group tomorrow morning, so I look forward to seeing some of you there.

Witches

What Should I Write?

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Well, my call for help with my wiki had all the draw of a Chippendale's Reunion Concert featuring Clarence Thomas, Joe Piscopo, and Dennis Kucinich. I therefore am simply going to create the content of this thing on my own.

I understand Slope culture pretty well (bacon, LDI, etc.) but I'd love some brain ticklers so I can put a list together of what I need to memorialize. So please mention in the comments section of this post some Slope characters, folklore, etc. you'd like put into the time capsule. Thanks.