Randomness, Gold and Life

Barry Ritholtz (Photo credit: Michael Covel)

The Internet is such a wonderful tool to find information. As someone with ADHD, the randomness of searching for and finding information there can be both a blessing and a curse. Today's find is a perfect illustration of randomness. A newsletter I subscribe to pointed me to a Barry Ritholtz interview on Yahoo Finance where he says he thinks gold will bounce back to $1400 before possibly falling back to the $600-$800 range.

In the interview Ritholtz references a blog post about the gold price bouncing. So, I did a Google search and found the post, Is Gold Overdue for a Bounce? Like most everything Ritholtz writes, it's well worth the read - even if you disagree with his conclusions.

So far, so random. But not nearly random enough yet. In the reader comments to Ritholtz's post, a reader posted a link to his article If this is the Gold Bottom, it's Totally Random. In it, JC Parets, Founder and President of Eagle Bay Capital, LLC, makes the case for a bottom in fold in the $1150's rather than just below $1200, based on the weekly gold futures chart.

There is something about technicals, charts and numbers that brings order to the seeming randomness of markets - and for someone who has lived a random life, that provides a little comfort.