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Chas:
With the obvious very checkered ability of gold to do anything sustained to the
upside I am not advocating anything super, however it did top in Jan '80 and we
are a long way in both price and time from then. A few years of general uptrend
in precious metals along with a few years of downtrend in the security side
would not be impossible. The only thing I've found truly hard to believe is the
events of Sep 11. Another story. We'll just watch and see what develops with
the patterns. By the way I used the 75 level in the RSI based on Connie
Brown's book, going to 75 then holding around 40 usually results in a sustained
upmove.
Take care.
charles meyer wrote:
> Jeff:
>
> You might have something there relative to a signal generated by the
> crossing of a certain RSI level. And of course the COT indicator is not
> as straight forward as one would like.
>
> Chas
>
> ----- Original Message -----
> From: Jeff Redcay <jredcay@xxxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Sunday, September 23, 2001 2:09 PM
> Subject: Re: [RT] Relative Strength Warning
>
> > Thanks for your insights, never fighting commercials is a rule. Just to
> point
> > out that there is a chance (after the big shorts are happy, of course)
> that gold
> > may indeed make another top in the future as viewed with an eye to the RSI
> > index. And that is a longer term perspective naturally.
> >
> > Jeff
> >
> >
> >
> >
> > charles meyer wrote:
> >
> > > Jeff:
> > >
> > > Commercials are heavily short. Just a thought; and no joke intended.
> > >
> > > Chas
> > >
> > > ----- Original Message -----
> > > From: Jeff Redcay <jredcay@xxxxxxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Sunday, September 23, 2001 1:47 PM
> > > Subject: [RT] Relative Strength Warning
> > >
> > > > Back in 1996 Gold made a fairly major top. In following Gold's
> relative
> > > > strength to the DJIA from that period until now, it appears, using
> > > > trendline analysis that a switch into Gold tradeables may be more than
> > > > just a thought! Any thoughts?
> > > >
> > > >
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> > > >
> > > >
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> > > >
> > >
> >
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