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Commodities

Gold

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globaleconomicanalysis.blogspot.com - 11/22/2008

I Like Gold Here

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The action in gold and the miners is very encouraging. The overall indices got hammered yesterday and gold did not follow. Nor did the gold miners. Hedge fund selling and leverage unwinding in gold may be complete or nearly complete. Here is a chart of Goldcorp. click on chart for sharper ...

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2 NEW ideas
itrade4real.com - News Feed — ... haven't had many signals in gold over the last few years, that weren't also accompanied by stronger signals in other commodities. I suspect this could make the move in gold even more pronounced if I'm correct, as this is a solitary signal. Look at the action in the agricultural commodities yesterday, which were smashed lower (corn). Whenever a signal is a lone standout, it gets all the attention (and buying). Lastly, consider that some highly respected traders are buying, such as Mish .

Further Reading
FT Alphaville — ... markets edition. - A Q&A with Michael Lewis . - “… it looks like the real absurdity was the stock market’s performance during much of the preceding 14 years.” - Tim Geithner goes to Washington. - “There is a remarkable failure to acknowledge a key element of the task before us, that is, that the financial system HAS to shrink.” - When stocks go to zero . - Japan’s salarymen told to work less, have more kids. - “I like gold here.” - Trader Psychology bows out. ______