Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
In what will surely sound bizarre to many, a new generation of investors is looking at the stars when it comes to making trading and investment decisions, in particular when trying to predict the price behaviour for precious metals.
“The buying and selling that occurs [in the financial markets] is a reflection of two emotions, fear and hope, and this buying and selling exhibits patterns,” writes Malcolm Bucholtz, analyst who trades the financial markets using technical charts, esoteric mathematics and astrology.
According to Bucholtz, a business expert, ProEdgeWire columnist and author of “The Bull, the Bear and the Planets,” the markets exhibit patterns that are as easy to track as the planets’ paths.
To illustrate his point he analyzed the correlation between gold prices and Mercury’s trajectory around the Sun during November 2012, when the planet was retrograde.
“Notice how Mercury kept gold traders on the edge of their seats with some fascinating price volatility during its March retrograde event,” he writes about the following charts (click to enlarge):
Mercury is currently retrograde. It started on Feb. 23 and it will last until March 16. It will happen again this year from June 26 to July19 and from Oct.21 to Nov.9.
