Friday, October 26, 2007

Bull and Bear Markets for Gold

Three from Bespoke Investment Group, first the Au:
For our next Bespoke Reference post, below we highlight the historical bull and bear markets for Gold since 1972 (post Bretton Woods). Since '72, there have been 14 bull and 13 bear market cycles (20% rises/declines preceded by a 20% decline/rise). The average bull market in Gold has lasted 434 days with gains of 94.89%. The average bear is a bit longer at 538 days with average declines of 33.37%. The current bull market in Gold that started in June of 2006 is a bit longer than the average at 496 days with gains of 36.24%....Here's the table.
Oil Rallies to New Highs; Now at $90.46

Just when people thought Oil might be ready for a slowdown, the commodity shot up $3.36 on the day to break to new highs. It's currently trading above $90 once again at $90.46.


Bespoke's Commodity Snapshot

lt's been a couple of weeks since we last did our commodity snapshot, so we have updated our trading area charts below. As the charts show, Wheat and Coffee have declined the most after hitting very overbought levels over the past few months. Corn, Copper, Silver and Natural Gas remain range bound, while Oil, Gold and Platinum are in nice uptrends. Until those uptrends break, the momentum favors the bulls....Charts