Tuesday, May 26, 2009
Not to point out the obvious
and oversimplify things, but when you tune out the daily noise and ignore the intra-day squiggle jumpers (i.e. day-traders, who I envy 'cuz I ain't got time to be 'em), what really is the difference between the two circled areas on the daily candlestick 2 year chart of the NASDAQ ($COMPQ) below?
Could we have another up today tomorrow? Sure. But a month from now we will be significantly lower and since I can't watch the market intra-day very often, that's knowing more than enough to make an intermediate-term investment decision.
I think Gold and Gold stocks need a rest, too, but I suspect we'll get nominal new highs in the Gold price before the 4th of July in spite of a suspected imminent rise in the U.S. Dollar Index.