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
  • Most Commodities Currently Overbought, Led By Gold
    Also consider this: When something is bought, it is owned. Over bought then equals over owned. The only cure for this situation would be to toss some gold in the ocean or eject some into space in order to reduce ownership levels. When one thinks it over, the whole idea is terribly absurd.

    Also notice these charts are worthless drivel. The truth is that the shaded areas are drawn in after the market has determined the price. To assume prices ought to somehow stay in the shaded areas, that these charts determine how everyone on the planet who buys coffee or gold ought to act is insane.
    Jan 07 21:30 pm |Rating: 0 0 |Link to Comment |View article
  • Most Commodities Currently Overbought, Led By Gold
    Before something can be bought it must be sold. If it is overbought it must therefore be oversold at the same time. The two concepts negate each other.

    The concept of 'overbought' is therefore spurious. How this phrase crept into the investment world is unknown by me, but I would like to see it creep out.
    Jan 07 14:45 pm |Rating: 0 0 |Link to Comment |View article

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