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Market resistence fails?
Message
From
18/09/2008 14:31:26
 
General information
Forum:
Finances
Category:
Stock markets
Miscellaneous
Thread ID:
01348415
Message ID:
01348704
Views:
14
>>>>>Dow under $11k
>>>>>Nasdaq under $2200
>>>>>S&P under $1200
>>>>>
>>>>>Tuesday's up day looks like a dead cat bounce. Waiting for confirmation. DOW confirmation below 11k is very bad. Next up minor resistance at 10.8 and 10.2 then 10k and if that doesn't hold...
>>>>>
>>>>>There's an awful lot of panic selling going on...
>>>>
>>>>Hold the line.
>>>>By the way, gold performed miraculously today.
>>>Not to mention Silver
>>
>>Silver is supposed to move the same way as gold, though is is currently more volatile because of weaker fundamentals.
>
>Don't people always flock to gold in times of financial panic?

Sure not, because, firstly, 'financial panic' is an elastic phrase, and,secondly, 'people' are not a homogenous entity. Gold price experienced huge gyrations during last 2 months that cannot be described by simple 'flocking'.
Edward Pikman
Independent Consultant
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