Gold: Does Hollywood Foretell 'Sell' Signals?
Chris Kimble | Jan 21, 2014 01:22PM ET
Four of the key highs in the Dow since 1987 have taken place at about the same time that Hollywood has released a movie about Wall Street (left chart) above. So up until now it has paid to harvest long holding in the Dow when a new Wall Street movie is released. Will its timing be different this time around?
When Gold was trading at $1,600, the Power of the Patterns target was $1,900 (See gold target GLD ) became the largest ETF in the world and physical holdings in GLD were hitting all-time highs.
Does Hollywood help us with sell signals on the Dow and the crowd help us with buy/sell decisions on Gold? The lower right chart from shortsideoflong.com reflects dumping of physical holdings by the ETF are taking place as a key support line is coming into play in Gold.
Let Hollywood and society be your investment friend or guide? You be the judge!
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