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October 5, 2005
Fool's Gold, or just Fool?, Wed., Oct. 5, 2005, 2:24 PM
Did you happen to notice my little calendar over top of the Search Box on the right sidebar, re Don Luskin?
Yes, he made the call that gold was broken, a Fool's Gold if you will, and so I'm counting down the days until I get to call him the Fool.
By the way, here's the chart on gold (GLD, which is the spot price), stuck at $464.20. But, who's counting?
I think I'm going to make this a regular feature. Next time I think I'll do Cramer. There is so much there to work with. :-)
Posted by Posted by Bill Cara on October 5, 2005 02:24:21 PM | Category: Bullion , Gold
Bill,
How is it that anyone could call a top of any commodity that: (1) is trading within 4% of decade highs; and (2) has an average monthly trading range of about 7% of its current price? Maybe I am talking my book, because I am long a number of gold stocks, but the concept of calling a top before support is taken out seems ridiculous to me. I'd appreciate your thoughts.
Posted by: josh![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
October 5, 2005 5:26 PM [link]