When you look back in time, you see the same patterns. Let's take a look at the trend continuation trade in Gold at the end of 1978. It looks like many of the modern day bull market moves we see. Market movements don't change. They are very orderly. The only thing that changes are the people doing the trading.
Joel Stahl
It is unfortunate we don't have volume data from '78 to give more insight into the price action. I wonder if the '78 pivot high and sell off corresponds to the 2006 high and sell off. But then there is the 30 year cycle to consider. Hmmmm....
Posted by: Greg Schroeder | February 06, 2009 at 05:16 PM