gold - most manipulated market

Much of the recent bearishness is based on primary school TA, a broken trend line of a triangle that moved almost to its apex and the 200 day MA.

The best long term market predictor that I know may well not be the best short or medium term trader. People need to stay within the bounds of what they are historically best at.

Gold is the most manipulated market on the planet. Painting charts to accumulate has been a fact since 2003. China is a master painter of the world cash gold chart. That is why in this entire gold bull market every major up move in gold has been proceeded by a horrid technical formation or break that reversed out of nowhere.

If a simple trend line breaks or 200 day moving averages were consistently good, everyone would be a billionaire.

Next week could surprise the bears in gold.

I would not, now, be stampeded by a great long term predictor’s short term outlook or a fellow who screams, dances, blows whistles, and horns when reporting on markets who recently declared the gold bull market dead for the second time in a year.

The first declaration was hardly a death.

Regards,

Jim

jsmineset.com

Also, this gold comment from Peter Grandich (Dec 19, 2011)