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: Texas Lawyer Blog

Gold Prices

By mcbride

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The good folks at Elliot Wave note that ?[Gold]?s rise has now engendered back-to-back days of 97 percent bulls, the first time this has occurred in the 22 years of Daily Sentiment Index data that we have from MBH Commodity Advisors (trade-futures.com).? and thus almost guarantee plummeting gold prices.  Their point is that once everyone, really everyone, says anything (like gold has nowhere to go but up), then it is time for the opposite to happen.  They cite oil prices and how everyone was saying that peak oil had occurred and it was never going down, right before it went down.  Elliott Wave says: sell all gold now. 

 Here is a link to their web site: www.elliottwave.com

 Michael

Full post as published by Texas Lawyer Blog on November 18, 2009 (boomark / email).

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