Oil is very late, in a very mature move higher in oil prices and focusing their trades in energy and most certainly leveraging their trades in this two-years move higher. They are being forced to pick a top. Everyone has become despondent on gold but the cup and handle pattern in gold is going to produce a huge move once the price can breakout. The conditioning of frustration and disappointment in gold has many who will not believe the breakout move in gold until it hits $3,000/oz perhaps:
Gary Savage is a 57-year-old retired entrepreneur living in Las Vegas. He has been investing in stocks and commodities for 15+ years. He is a self-made multi-millionaire and attributes his financial success to savvy investments made in owning/selling several businesses, real estate, and, more recently, the stock market. He is also an Olympic weightlifting champion, and world record holder. Gary’s stock market investment philosophy and success owes to an unusually disciplined and keen understanding of market cycles combined with cutting edge sentiment data which allows him to anticipate and articulate how larger trends are likely to unfold. His analysis is almost always in strong contrast to what the public is thinking – and, provocatively, several steps ahead of the crowd. Gary’s renown as a recognized trading/investment expert in the areas of precious metals, stock market, oil and currency markets is demonstrated by his numerous internationally published articles in these market areas. Gary publishes the Smart Money Tracker, a market newsletter available online by subscription only, and also the SMT free blog.
