I noticed this as I viewed the (very long) video advert from Sean Hyman who is promoting his Biblical Money Code service on kitco.com on Tuesday (yesterday).
He showed CEMIG stock chart from 2012-2013.
The video is too long really - he should cut it by 1/2 or 2/3 - too repetitive but interesting content!
He showed CEMIG stock as an illustration of sentiment extremes at a low, despite what he described as strong fundamental analysis of the stock at the time.
I just looked agog as I saw something that looked identical to the gold chart:
A downtrend off a top (like gold from $1800 to the mid-$1500s) followed by
a tiny bounce in a downtrend (like gold at $1590) followed by
a huge drop (like 12-15 April gold to $1321) followed by
an abortive rally (like gold to 1480) followed by
another downtrend accelerating to a new low (like gold to $1180 on 27-28 June) followed by
a decent rally (like gold from $1180 to $1434 by August) foll.owed by
another decline with a crummy corrective rally in the middle (like gold from late Aug to late Nov 2013), then to where?
To a new low! Followed by
a decent rally (as if gold rallies to above $1434) folowed by
a sharp downmove to yet another new low followed by
a choppy and gradual repair process.
I wonder if this is a model for gold?
The Biblical Money Code advert video is at the link below and it speaks of "looking well into the matter" and also of Biblical ethics with regard to investing and offers what sounds like an interesting service. Have a cup of coffee or tea and a piece of cake handy - it is a really long video!
http://www.moneynews.com/MKTNews/Financial-bible-Hyman/2013/07/08/id/513894/?promo_code=141BA-1
Here are the charts:
This was the moment when I sat somewhat aghast at a chart that looked just like gold:
Dear Sean Hyman: I tried to find an email address for you online to ask if I can use the above chart but I could not find one! If you wish me to remove it, post a comment and I will delete it and use a stockcharts.com somewhere else for a chart instead.
Unfortunately the stockcharts chart is too compressed to show it well:
http://stockcharts.com/freecharts/gallery.html?s=cig
However, CEMIG had a nice recovery after the bear market in 2011/2013 and made it up to the intermediate low from its double top. This might be equivalent to the $1520 level in gold which was the low of late 2011-2012 that was hit a few times. Then the bear market resumed and CEMIG is not near to its bear market low again:
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