reluctantplumber
Long

Remembering history to help with the future

COMEX:GC2!   GOLD FUTURES (CONTINUOUS: NEXT CONTRACT IN FRONT)
On October 1st of 2007 the S&P 500 had reached a new all time high. Then began a 518 day plunge that would be known as the great recession of 2008. 3,837 days later in September of 2019, the S&P 500 would reach another all time high. This one over 353% higher than that terrible bottom. Gold had already began a multi year up-trend before the beginning of the great recession and continued during the recession for another 1400 days, eventually giving up the bull after gains of over 640% from its April 2001 low. Is this time different? Probably so, but the similarities are glaring and the Fib lines telling. I battle with the short term moves the same as everyone else, its human nature, but Gold is to hold. Build your core position and trade around it for at least the next 1400 days :)

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