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Sunday, June 13, 2010

T + Times = Sell?

Do the NY Times & the 'Mr. T' Gold Indicator signal that the price of gold is at a top?

Items of interest:

Kevin Depew / Minyanville:
Has the Mr. T Gold Indicator Given a Sell Signal? -- The Mr. T Gold Indicator is a proprietary technical indicator created by Minyanville to identify and anticipate prospective exhaustion points in the price data for gold. Some technical indicators rely on formulas applied to the price data of a security, but these types of indicators can be very subjective, requiring an analyst to view the signals that are generated within the context of still more indicators! The Mr. T Gold Indicator, on the other hand, is completely objective and easy to use. All you have to do is look at Mr. T. What could be easier than that? ...

related:
DiscDish:
The A-Team... -- The A-Team coming to the big screen on June 11, the original The A-Team [TV series] is coming to DVD in a Complete Series set on June 8...
----
The Big Picture:
Uh-Oh: Gold on the Front Page of Sunday’s NYTimes… -- Contrarians beware: A long article on the rise of Gold as an investment asset class is on the front page of the NYT...

The thinking behind such contrarian indicators (such as the magazine cover) is as follows: By the time any given investment trend reaches the critical mass required for a staid front page editor to become aware of it, it is very late in that cycle. Indeed, in order to be more than a merely quirky story, it has to have a broad enough appeal to be approved for the cover story...
related:
Nelson Schwartz / NY Times:
Uncertainty Restores Glitter to an Old Refuge, Gold -- Inflation, deflation, government borrowing or the plunging euro — you name it — the specter of these concerns has set off a dash to gold, driving the precious metal to new highs and illustrating how fears of economic turmoil have moved from the fringe to the mainstream.

And gold bugs, often dismissed as crackpots who hoard gold bars in the basement, are finally having their day…

The most visible new gold enthusiasts range from the Fox News commentator Glenn Beck on the right to the financier George Soros on the left, with even some sober-minded Wall Street types developing a case of gold fever. While their language may differ, they share a fundamental view that the age-old refuge of gold is relevant again, especially as other assets like stocks and national currencies show signs of weakness...

Tongue only half in cheek, Glenn Beck advised his audience to consider “Gold, God and Guns,” while laying out three possible scenarios for the economy: recession, depression or collapse...

Calculated Risk

MishTalk - Mike Shedlock

Paul Krugman - NY Times

The Big Picture - Barry Ritholtz

naked capitalism - Yves Smith

Pragmatic Capitalism

Washington's Blog

Safe Haven

Paper Economy

The Daily Reckoning - Australia