the second critical observation is that nobody knows the immediate or close in time future....
I see today or this week that rick rule says copper has gotten a little ahead of itself, his precise comment. how the phouck does he know? to be fair, he has seen a lot of charts of commodities and he knows them well, but that may only give him a slight edge.
When I used to bet football, I knew I had an edge over the regular joes, but perhaps I could contain 8 variables, whereas they could only contain 6 or 7, but the outcome depended on 20 variables....
so RR reminds me of me.....which means the following:
the closer in time you judge a commodity to be where you think it should be, the more likely you are to be tossing a coin.
could copper got to 3.25 in the next 4 months,then backtrack to 2.55, before the next surge to 4 bucks?
I think Gold is going this now. Does it go to 1045 and double bottom in the next 8 months, before blasting off so much higher, as it must who friggin knows...
The conventional wisdom with some of the smartest guessers in the businessness, the witty guys who speak at conferences, i.e. is that copper hits it real bull stride in 2 or 2.5 yrs from now. RR in his interview says this btw. and I really like and enjoy RR and think he is smart, but let us not push it buddy.
. HE IS NO RASPUTIN THE MAD MONK.......however ever much the conventional wisdom annoints him.......the truth is he is probably wrong, the closer in time he predicts.
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