Cults: Apple, Gold and Silver (15:04)
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Oh dear, another video that will generate dozens of emails:
“You just don’t understand. AAPL is the pre-eminent, global technology company and their share price should be at $1,000.” or “Governments around the world will print money forever and so the price of Gold is potentially infinite.”
I do understand the story and yes, to some extent, I wish I’d jumped on board back in the day. So, I’ll admit, a little sour grapes. And one day I’ll tell the world my personal Gold horror story.
Anyway, that’s all interesting background color to the real story, which is the price and volume chart. So, let’s just focus on that – and the psychological importance of (round number) price levels that drive Amateur activity.
- 0:00 – AAPL chart commentary ($540, price 5 Dec 2012)
- 6:30 – Gold chart commentary ($1700)
- 10:45 – Silver chart commentary ($33)
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