I shared the chart below with FIL yesterday, trying to make the case that parabolic charts are usually a bad omen when it comes to traded assets. Whether it be Netflix, crude oil, Swiss francs, silver or gold, when the slope becomes parabolic it should be time to get very nervous and look for places to start lightening up. Hogwash of course is effectively his answer. And he has some good points: Currency Currents 5 January 2012 |
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