‘Contrarianism’ – Commentary – 4 June 2008
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Written by Anthony Truong on June 4, 2008 – 1:24 am
This commentary is a continuation of my response to a reader question on 24 May 2008, which can be found here.
Dear Reader, are you still bullish on everything? I’d like to point out the rather convenient timing of your message when you were saying that I should put away my ‘doom and gloom’ predictions.
From memory, the All Ords was around 5800 or just above, but had recently come down from a high around 6100; gold was at 930 or so; EURUSD was around 1.58; silver around 18.20. All Ords is taking its time falling, but it’s still had a few good days of falls, closing at 5703; gold had a really bad 25 minutes just before US markets officially opened tonight, dropping some 20 dollars – it’s since recouped some, but is currently at 880; EURUSD is currently at 1.5441, after dropping over 150 pips in the
same 25 minutes as gold; silver is currently at 16.71.
I should have used your message as a great contrarian play! Haha… Shucks… Retrospect is always 20/20.
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