All right, the usually optimistic Brian "only price pays" Shannon posted in his blog yesterday evening a very bearish picture of the market. As he's an (intra)day trader he usually tends to be positive because there always is some sort of bull lurking out there waiting to be grabbed by the horns.
This time around he almost pulls out every trick in the book, vwap/fibo/head'n shoulders, and the picture forward not only seems bleak but, according to Brian, it is very much broken.
What this means is that we're at the next free fall dropoff zone; buy gold/euros. Sell dollars. Oil seems to stay in the same spot; unless you're paying it with dollars.... For several reasons gold is going to double in price; Max Keiser says the dollar is going to be cut in half. Hence the doubling up of gold that everybody seems to be shouting about.
Be sure to drop by at Brians' site @ alphatrends
Ps: aparently the Rand will drop with the dollar; the drop placed right after SA's election. Funny, it's an election but you already know who's going to be president.....
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