Tuesday, January 3, 2012

I dont pay attention to Charts

Jim Rogers : Well, see you know all of these things about charts. I don’t know all this stuff. I don’t pay attention to them. But it certainly scared them in the 1970’s when gold went down 50 per cent, I guess it broke all the charts and scared everybody and they sold out.All it would mean is that some speculators were dumping their gold or losing their faith. Right now we’ve got a lot of correction in the commodities markets because MF Global went bankrupt and there’s a lot of forced, artificial liquidation but liquidation is liquidation whether it’s artificial or not. And that’s what happening. If gold went to $1200, it might just mean that – that there was forced selling. - in The Street

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