Golden apples….

Posted on Dec 03, 2013 by in Letters

 

http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=5&mn=0&dy=0&id=p31723949560&a=290122392

The question is not whether gold will go down, but how much.  As always analyzing these things is tricky but ever one to step on thin ice we set out to try to get an idea of it s short potential (we are short).  If you measure the top formation you get a depth of 37 (m/l0.  The bottom of the formation is at 148, so if you fulfilled a normal E&M measurement  you would get a target of 111.  The PnF chart agrees with this:

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