Interesting comparisons between Gold rallies over the past 3 years.
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Graphic via The Chart Store:
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The Dollar Index obviously impacts the commodity groups:
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Putting aside its incredible product line and pipeline of more, its still attractive valuation relative to earnings, and its $100 per share of cash that may be used for a dividend soon, Apple's stock has gone parabolic. And, parabolic moves always end one way, back to the place where the parabolic move began. Now, AAPL can of course power higher to who knows where in this move but the largest market cap stock in the world has now entered a tenuous phase, strictly technically speaking. But I digress. German investor confidence, the ZEW, in the next 6 months rose back...
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December 11th, 2009 at 2:44 pm
Hmm,
A recent DSI reading on gold of 97% bulls and two gold charts on one of the most popular blogs in the country and not a single comment?
I guess all the recent gold bugs are really feeling some cold steel from the move down?
Or, are those gold bugs so confident that they don’t even bother commenting, bottom left to upper right.
December 11th, 2009 at 9:20 pm
I will buy more below $1045. Nothing has changed. Excuse me. Actually, those things which have not changed have gotten more convoluted thanks to the USG. The “bond vigilantes” have now signaled that.
December 12th, 2009 at 1:06 pm
Nouriel Roubini calls the bubble in Gold:
http://www.rgemonitor.com/blog/roubini/258112/the_new_bubble_in_the_barbarous_relic_that_is_gold
December 14th, 2009 at 9:44 am
[...] Comparing gold rallies (chart): http://www.ritholtz.com/blog/2009/12/comparing-gold-rallies/ Gold is rapidly approaching its 50 day moving average (chart): [...]
December 15th, 2009 at 6:21 pm
That isn’t interesting at all… there may be a correlation in 2 samples. Of course once you get done “Massaging the data” and pull out the 90 days he took out… YOU ARE THERE!
which still doesn’t mean anything!