Does Silver’s ‘Smooth Ride’ Lead Past $30?
September 30, 2010 by goldguru · Leave a Comment
Jeff Nielson submits:
Regular readers will know that I shun short-term charts and “technical analysis”. Such tools carry a low degree of reliability, since they are built upon numerous false assumptions (beginning with “free and open markets”, and “perfect information”). I submit to readers that markets have never been less “free and open”, and information has never been so far from “perfect”.
Worse still, almost none of the people who engage in such analysis have any theoretical training in statistics. Lacking such education, they are simply oblivious to how much accuracy is lost with such tools – when we shorten the time-horizon.
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