RE:Heywoody...I always find it funny how precious Let's see where the top ultimately levels off at. I'm not into Elliott waves, but they would predict much higher than $2k gold. Even the most bearish such as Harry Dent says gold will go to at least $2,200.
Remember, in the last wave from 2001's low to 2011's high, gold increased almost 8 fold, as any good TA chartist would tell you! So, we bottomed out at the beginning of this new cycle around $1k, so that would indicate about an $8k gold peak this cycle??
Just using the cycles, the charts, all that stuff you like to use - I can use it too, but not for trading, rather investing.
Channeling my inner Keith here.......if we get back to 30:1 on the silver:gold ratio that puts us around that $300 an ounce that Keith mentioned. Again, just using the charts, and the historical ratios and all the other stuff that both investors and TA folk will use.
If you are a student of history, and it repeats itself after all, you will realize that this short period of time in history where the silver:gold ratio is above twenty is an aberration. This is not normal. OK, reality is that right now it is, but again step back and take a larger look: where were we and where are we heading back to. Just as a driver who gets lost and takes a wrong turn will not stay lost forever, markets revert back towards normalacy, even if it takes years.
Seems if you get too caught up in TA you miss the forest for the trees. Good analogy huh? You can focus on the trees, but don't belittle those who realize the forest.
I focus on the smaller value stocks primarily. I want to buy what is selling at over 90% discounts!! When was the last time AG was trading below $1.50?? When I take a position in a stock I want at least a 10 bagger. Trading in and out for pedestrian gains of 20% would be too tedious and taxing (pun intended) for me.
Your style is like the tortoise in the fable, slow and steady. I am like the rabbit, I can be napping for a long time and then I will bolt very fast and catch the tortoise. We both get to the end point, just a different speeds along the way.
You seem to think that everbody should be into TA, that they are leaving oodles and oodles of cash on the table. Well, guess what, if EVERYBODY were into TA and were working the exact same trades as you because you were all reading the same charts there'd be very little profits for you collectively to earn, no? It is good that there are some investors and that there are some TA folk.
Look, I know I will need the TA folk to jump in on momentum at some point in the future and pay $10 for a stock I bought for 50 cents!!