Tuesday, August 5, 2008
So, while we crazy gold bugs get banished back to the dark ages we came from, what of our friendly piggy? Well, this rally feels good I am sure (I am a non participant) and with the huge amounts of fear exhibited recently, it is certainly due for a hopeful rise. At what point does this hope turn to greed? Well, one indicator that has been reliable recently has been the CBOE PCR. The ratio has spiked down toward complacency territory but my favorite indicator is the EMA 20. When it settles down near .90, bulls may want to exercise caution. Okay, see you later. Off to jam using that neat crimson Strat I showed here a few weeks ago. Got a lot of tension to release.