Hugh

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  • Bespoke's Commodity Snapshot (6/10/08)
    paultaut,

    Look at those charts and tell me what the N.Y. gold closing price will be on June 18th.

    Thank you very much!
    Jun 12 05:20 am |Rating: 0 0 |Link to Comment |View article
  • Bespoke's Commodity Snapshot (6/10/08)
    History never repeats. The fact that a few trends in Art, Politics, Finance and many others cycle in popularity, doesn't mean history repeats itself.

    Take a snapshot of the world today, and unless you live in the television show the Twilight Zone or Star Trek, the snap shot will be different from all other snapshots ever taken.

    What makes an economy is human action. We have six billion people on earth, all of them taking action daily. What are the possibilities that all of these players will take the same actions again simultaneously?

    Look at the green areas of the above charts. Why aren't these areas extended out into the future? If they can't be accurately extended into the future, the they mean nothing.

    If charts worked, there would be no markets. This is profound, study it.
    Jun 11 14:55 pm |Rating: 0 0 |Link to Comment |View article
  • Bespoke's Commodity Snapshot (6/10/08)
    Totally meaningless trival. "Overbought" and "oversold" are overused terms that mean nothing.

    If something is "overbought,"... Then is must be at the same time "oversold."

    If a trillion ounces of gold were bought in one hour, one could look at the buyers and claim an "overbought" situation, where another observer could look at the sellers and claim an "oversold" situation. Overbought must therefore cancel oversold, making both terms suitable only for the braindead.

    Charts are history. They tell us nothing about the future because the future of a complex economy is ruled by billions of variables on an hourly basis. That Iran may or may not be attacked by the United States next week, therefore sending gold to over $1000 per oz, might be hinged on the menstrual cycle of some general's wife. Where's the chart for that?

    Its obvious to me that some people write only to chum for business.
    Jun 11 04:24 am |Rating: 0 0 |Link to Comment |View article

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