Wednesday, September 17, 2008

Charts to ponder

Dollar - Severely Overbought Condition




    OIL - Severely Oversold Condition



    Gold - Severely Oversold Condition



    DOW - Slightly Oversold but look at recent PPO Downturn - Going Lower

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    3 Comments:

    At 9/17/2008 1:26 PM, Anonymous tarun said...

    Hi Randy,
    We just need two more days like today for gold $1100 and I would like to buy you a week vacation of your choice.
    Thanks again for helping me hold my position

     
    At 9/17/2008 5:21 PM, Blogger Randy said...

    Tarun,

    Up $85 in a day and another $4, thus far, in Asian trading - not too shabby!

    In this uncertain economic environment, people are flocking to safety and your Gold calls are looking much better - but as stated in my reply last night (don't know if you read it), I'd feel ABSOLUTELY HORRIBLE if it doesn't work out for you.

    Note: I've personally been burned w/call options in the past and now stay away from them.

    Anyway, your offer certainly is very gracious and I'd love to take you up on it, but would feel very uncomfortable in doing so.

    Lastly, I really appreciate your readership and I'm always glad to help folks understand what is unfolding - as I see it anyway (which pretty much HAS been on-the-mark "thus far"), but Nostradamus I am not - and I would really feel rotten if any of my readers lost their ass because they placed too much faith in my future vision.

    With that, know that I have my fingers crossed for you!

    best regards

    Randy

     
    At 9/18/2008 5:23 AM, Anonymous tarun said...

    Thanks Randy,
    For your well thought and classy response. Obviously you have a lot of class. I will still hold up the offer and dont feel bad as i made the gamble myself after reading many blogs like mish, financial sense, and feclenstein. I am a big boy and can live with it. Your assurance just kep me in the trade when i was 90% down. Not much to pull out.Covered yesterday and will let it ride this week. Will keep you posted.
    Best Regards

     

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