Gary, as you know I'm not a cycles trader but I do use the chart action for all my buying and selling.One question, hasn't gold and silver produced these same movements off the July lows in 2013 and off Dec 2013 lows?Speaking of silver imo as the chart clearly shows which I mentioned earlier this week ( the possibility) it has broken out of its resistance trend line in place since the 2011 highs on the "Weekly chart", that is extremely bullish (especially if next Fri closes even higher) that's the only true breakout I see that is different from the move off the previous breakouts July-Dec.Gold is setting up for another bullish run, but silver is really a coil looking to pop!...........jj
There is always the possibility that the metals are just setting up another bounce in this year long consolidation but because the move is so aggressive so early in the intermediate cycle I tend to the think the odds are the secular bull is resuming and he's pissed off over the artificial bear market last year.
Thanks Gary, you know eventually I'll convince you never to draw an arrow on a chart going to Da Moon again, lol....well maybe from $1525 or $1923Lets have Mr Market show us just how Bullish gold and silver will perform off yet another low......jj
Gary, you nailed it with your last big call on the bottom. You said it loud and clear and you werewilling to live with it if wrong. Many Congrates.
JJ,My arrows are just meant to show trajectory. Cycles are mostly worthless for spotting tops or targets.
PM manipulations are alive and as strong as ever.http://www.caseyresearch.com/gsd/edition/russias-central-bank-buys-300000-ounce-of-gold-in-may
As a trader these big smack downs with no regard for price values within the Crimex makes one wonder if the so called Manipulators are in fact the biggest physical buyers. Russia and China sell "paper" contracts driving gold down only to buy the physical for less, hmmm will we ever really know regardless of it being a bullion bankster doing the selling who's providing the ammo....imo its not the Central Banksters its the biggest physical buyers, selling paper buying physical...a perfect trade!....jj
Did JP Morgan cover/dump their suorts on Thursday???
Bob, perhaps Norcini provides the answer to your question.....jjhttp://www.traderdannorcini.blogspot.ca/2014/06/speculators-short-copper-cover-in.html
Looks like Norcini is whining about how much time he spends on his blog and needs to start making money off it. In the past he blasted TFmetals and other sites for doing similar moves. If you follow Dan you would not have made a dime on this last move in gold. If you follow Gary you would have made a killing on this last move in gold!Gary's free stuff is worth 100 times anything Norcini puts out on his blog. Gary, how much is your $1000 quest portfolio up since it started?
A little over 150%
That's amazing Gary, congratulations. Looks like the $1000 fee is covered and everyone is sitting on $500 profits in a couple of weeks. Well done!
Gold is improving day by day. This can be a good news for the gold traders.
Note: Only a member of this blog may post a comment.