User: Amy: Trading: http://www.321gold.com/editorials/sfs/hubbartt072712/gold_summer.gif

321gold.com/editorials/sfs/hubbartt072712/gold_summer.gif

Comments

TraderbhgTraderbhg
As much of a technical trader I have become over last year and as good as this chart looks, GOLD will fail miserably. I say this because GOLD simply should be much higher or even as close to its all time highs. Why had GOLD receded from its all time highs by approximately 25% at a time when GOLD is supposed to shine. When this alternative currency allows you to sleep like a baby. GOLD bugs don't sell GOLD; the average investor is still a big believer. Then why has it gone down? Its simple. GOLD returns will not be able to compete with the returns of the stock market in the very end. AT & T, Verizon, Merck, etc will sway the investors out of an asset class that doesn't provide income and on an absolute, relative, and for all intensive purposes go much higher(it has not) is not going to offer competitive returns. GOLD should have gone well over $2000 if it was supposed to perform as it was supposed to. My very strong opinion is that GOLD in near term will test its 200 MA fpr a day or two and as Bugs Bunny used to say...beep, beep, beep Thats All Folks! 7/28/12
Bob KudlaBob Kudla
Actually gold trades in sympathy to the increase in the debt ceiling, and the overall credit levels in the banking system. These have been flat to down for over a year. It is important to under the catalysts driving your trades. 7/28/12
corneliuscornelius
I don't see it that way. My chart shows a breakout a couple of days ago and target 1666 nest resistance. 7/28/12
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