Great Minds Think Alike *wink* *wink*

This post is just to make a point - "Great Minds Think Alike"! I follow TraderMark's blog religiously and am begining to anticipate what Mark is going to do next. Want proof? - I bought EXM today at 1:38PM (see the image above) and Mark posts on his blog at 1:40PM confirming that he bought EXM too - just 2 mins. after I did.  

Another example - I posted my $XAU chart post on Saturday (2/21) morning at 8:17AM and then Tim Knight from SlopeOfHope.com posts the same chart in his post on Sunday (2/22)  "meet james ensor" post. 

Is it just a sweet coincidence? Or am I begining to read the minds of these experts and anticipate their next moves? Mark & Tim, if you are reading this, you must be flattered!  

Cheers,

Pankaj

Gold !

Is it just me or is gold heading for a pulllback?  If this index clearly breaks above the long term trendline resistance, then I think we are headed for gold = 2000$!! I personally think its too early for gold to shoot that high and we cant be seeing the effect of the money that fed is planning to print so quickly...I think they are in the phase of buying ink and paper now to make money out of it. My guess is currently this is just speculative money pumping the price of gold and we should see a pullback soon! The real hyperinfaltion trade will be towards end of this year or early next year!  Just guessing as everyone else is ;). 

Cheers,

Pankaj

Gold is on everyone's tongue these days...

Not in the form of tongue piercings you silly but now that I said it, it doesn't sound like a bad idea ;).. 

Gold Gold Gold! All you need to do is switch on Bloomberg or CNBC and you will hear this word a million times every hour... Every Tom, Dick and Harry these days is talking about buying, you guesssed right, GOLD. People are also talking widely about how the price action broke out technically out of the penant formation. This will be a self-fulfilling prophecy eventually and prices will rise for sure because of the fundamental reasons and the sentiment in masses. 

My take:Gold MUST correct and fall upto $800, which will wash out the weak positions who are buying these days at $920. Only after that when everyone(dumb money) is off the gold bandwagon, Gold will rise steadily and rather quickly without getting much attention on media like it is getting now. 

Pankaj

Reasons for my post earlier calling $spx to be at 600!!

I just saw this article today... Click here.. I had a post in January calling for $SPX to test $750 or even $600 and I still believe that by the year end, we will see these numbers on charts unless you believe in miracles or Washington (I am still skeptical that Washington can fix this mess completely or quickly). 

One more thing that's going to happen for sure - the  huge amounts of money that the fed is printing these days, it will somehow flood the markets at some point in future. When that happens, it will inflate everything (corporate earnings included) and gold will officially rally like crazy (potentially upto $2000/oz), unlike the current fake breakout from the penant formation. (click here for more info.)

I wish I could accurately time the coming fall in markets and rise in gold prices. 

Pankaj