Forex Books Talking

Here we are five months into the New Golden Bull and putting it mildly, 2016 has to go into the record books for a couple of reasons. The first reason is that

that I have NEVER in my 38-year career witnessed a rally out of a bear market that comes close to the one in which we have found ourselves. The second

reason is that everyone and their brothers have drastically reduced their exposure to gold, especially those that were adequately positioned back in December when I brilliantly/luckily/drunkenly identified the bear market low in early December.

This weekend there abounds a plethora of articles calling for a correction and more than a few that are calling for a major top citing sentiment numbers, bullish

bullish percentage figures, RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), and of course the COT. However, it is only the

gray hair in my beard that allows me to recall the first few months of the 1982–2000 Great Bull Market in stocks, and I can tell you that stocks got overbought and stayed overbought from August 1982 until March 1983 before they corrected

For the gold miners, we are now in month four of the advance of the Jan. 19 low and for those out there trying to time the correction, nothing has yet worked

worked that had been working before. The COT worked beautifully in October with the Commercials short 166,000 followed by a $150 drop; we got to 171,431

171,431 back in on March 1 with gold at $1,230 followed by a $76 ADVANCE and a 123,470 INCREASE in commercial shorts—so the COT hasn't worked

worked. RSI has been as high as 86.75 on Feb. 11 with gold at $1,245; it dropped under 50 briefly on a move to $1,210 and has since not made it back to 70 despite

to 70 despite a move in price to $1,306, so RSI hasn't worked. MACD has had one negative crossover and two near misses since February while the Histograms

Histograms have gone from plus to minus to plus with the worst print in since February at $1,210. Bullish percentage has an 83 print and is the highest BPI for gold

BPI for gold miners since the top in August 2011. Nothing in the annals of technical analysis has worked for one simple reason: We are in a BULL MARKET

I spoke to a friend who has traded blue chips for 40 years with of the big banks last Friday; he said "This is insanity. It's all about the algo-bots being programmed

I spoke to a friend who has traded blue chips for 40 years with of the big banks last Friday; he said "This is insanity. It's all about the algo-bots being programmed