NMMM Finance Notes: 2010-05

2010-05-30

Gold charts unchanged

Gold charts are unchanged from previous post:
http://nmmmnu.blogspot.com/2010/05/gold-in-retrospection-technical.html

2010-05-28

How money works

http://jsmineset.com/2010/05/27/how-money-works/

Gold in retrospection - technical analysis and "fractal" patterns

Gold 1 week chart

On weekly chart (from 2007-09 to 2010-05) we can see massive triangle in brown, and then parallel channel in blue. Channel target is in ~1,370 USD area. Bottom is @ ~1,140 USD area.
Gold 1 day chart

On dayli chart (from 2009-11 to 2010-05) we can see very simillar pattern - massive triangle in brown, and parallel channel in blue. Channel target is ~ 1,270 USD area. Bottom - 1,175 USD.

Long ago I noticed this patterns. It was strange for me when I saw same patterns are formed in different time frames... But pattern like this often happen in gold. It is almost like a fractal. Of cource the pattern appear because human emotions are "captured" into the gold market and market in general.
Gold 4h chart

4 hours chart is insignificant for the moment, except price formed a small top.

2010-05-27

Gold charts from yesterday

1 day chart

Parallel channel rising (brown), it's almost on the resistance now.
4h chart

Channel inside the brown channel, almost on the resistance too.

Readings...

Gold Daily Chart: Cup and Handle Formation on Track
http://feedproxy.google.com/~r/JessesCafeAmericain/~3/Ux-PnQLyQeA/gold-daily-chart-cup-and-handle.html

Historical day: Apple becomes the second largest US company by market cap, taking over Microsoft
http://feedproxy.google.com/~r/RealityLenses/~3/suH85vmPuUE/historical-day-apple-becomes-second.html

Robert Prechter on TechTicker
http://feedproxy.google.com/~r/RealityLenses/~3/VDgM6u9qx-0/robert-prechter-on-techticker.html
video

Toyota Motor Corp. is buying a $50 million stake in electric-car maker Tesla Motors Inc. http://sufiy.blogspot.com/2010/05/toyota-motor-corp-is-buying-50-million.html

All Gold Funds are Not the Same
http://timiacono.com/index.php/2010/05/20/all-gold-funds-are-not-the-same/

Hourly Action In Gold From Trader Dan
http://jsmineset.com/2010/05/26/hourly-action-in-gold-from-trader-dan-278/

The Gold Rush in China
http://timiacono.com/index.php/2010/05/25/the-gold-rush-in-china/
video

2010-05-20

Gold charts

gold 1 day

Shown in blue is the rising channel after the triangle (in brown).
Price must rise to the channel top - about 1,240 level.

gold 8h

Shown in blue is same channel, but magnified.

Readings...

Gold-Euro
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/YPZGs3xjR_E/gold-euro.html

Gold Is In a Classic Cup and Handle Formation Targeting 1,450
http://jessescrossroadscafe.blogspot.com/2010/05/gold-is-in-classic-cup-and-handle.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29&utm_content=Google+Reader

Gold and Silver Intermediate Targets
http://feedproxy.google.com/~r/JessesCafeAmericain/~3/l9ufUe2cXfE/gold-and-silver-intermediate-targets.html

GLD “Tonnes in the Trust” Keeps on Rising
http://timiacono.com/index.php/2010/05/19/gld-tonnes-in-the-trust-keeps-on-rising/

Hourly Action In Gold From Trader Dan
http://jsmineset.com/2010/05/19/hourly-action-in-gold-from-trader-dan-275/

Gold ATM debuts in Abu Dhabi hotel as retail demand jumps
http://www.arabianmoney.net/gold-silver/2010/05/13/gold-atm-debuts-in-abu-dhabi-hotel-as-retail-demand-jumps/
video

Nassim Taleb forecasts future US treasury bond crisis
http://www.arabianmoney.net/bond-markets/2010/05/18/nassim-taleb-forecasts-future-us-treasury-bond-crisis/
video

In Bulgarian:

Неновски за “южното евро”
http://ikonomika.org/?p=3888

2010-05-14

Weimar Republic

I read something about Weimar Republic (Germany).

Here what is interesting:

Jan.1919, 1 oz gold =            170 DeutscheMarks
Nov.1923, 1 oz gold = 87 000 000 000 DeutscheMarks

Incredible isn't it ?

All this time, the gold oz costed about 20 USD.

2010-05-13

Gold charts

Gold weekly:

On the weekly chart we see a huge triangle (upper is brown), that was broken and price rising within a channel.. If we assme that the price will rice to upper boundary of the channel, this gives target of 1350's area.
Note the marks (1) and (2). Until week ago, the second top was lower than the first one, and the fugure looked like double top forming. In last 2-3 days the secnd mark hits higher price, so this no longer can be a double top.

Daily chart:

On the daily we have a triangle again, and a channel from the triangle. In fact similarity with the weekly chart is very big. Upper target is hit already, so we may see decline. Decline could be to the middle support line, or to lower boundary ~1160 area.

8 hours chart: