Financial Sense ~ "Something for Gold Bulls & Bears" by Ron Griess 05/25/2006

SOMETHING FOR GOLD BULLS & BEARS
by Ron Griess
Proprietor, The Chart Store
www.thechartstore.com
May 25, 2006 as published 5-19-06

We combed through our data base of daily gold prices back to April, 1968 and discovered that there have been only 28 five trading day moves of more than minus 10%. We have created two tables of the results: the first sorted by date, and the second sorted by percentage decline.

We have drawn two charts to display the results from the tables.

Looking at the historical evidence, it is probably safe to say that gold is due for an oversold bounce. After that, the historical evidence presents a mixed picture of results depending on what time frame one is looking at and where we are in the longer term cycle. In other words, something for both the bulls and the bears.

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