Gold Miners ETF (GDX)

[tootalljones]

personally, I think the "Oracle" generally talks gobblygook. Technical mumbo jumbo has a role to play, but there is not a single statistical basis for this holistic or impressionistic stuff. Trust me, Wallstreet vetted the idea of patterns over a century ago. If patterns could be predicted, this secret would be more valuable than the Gold Fleece of the Fountain of Youth, and wallstreet would be all over it.

tech analysis is just a little carnival straight or strait show in the financial industry's bag of tricks. Studies also show it has one value, and that is herding. If enough peeps believe it has some validity, like wildebeasts they will commit. This means, in certain markets, some of the time, with some of the stocks or vehicles, if enough people believe there is a breakout or breakdown of support, the herd will go to work.
The problem is, these moments are hard to pick, and statistically impossible to identify, since most moments fail. REmember, stock investors are gamblers, albeit they won't say it. fund managers like to think they are not gamblers, but there is a little larceny in the soul of each..........and the financial industry, being part casino owner and part player, likes to remember its winners, just like any degenerate....and this accounts in part for impressionistic technical anal-is...............show me one academic study that it works and I will stop investing tomorrow....THERE ARE NONE WHATSOEVER.....IT IS LIKE QUIJI BOARD STUFF.