Sunday, June 29, 2014
SPECIAL WEEKEND GOLD REPORT
I highly recommend all gold bugs read the special weekend gold report. The $10 one week trial (click on the orange subscribe button or email me directly at garysavage@cox.net) will get you access to the weekend report and the archives, and you can see for yourself how I picked almost the exact bottom on June 5... and took profits at the recent top.
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I did not participate in your Qwest portfolio challenge of a couple weeks ago - though since you were successful in turning a 170+% gain in short order I wish I had.
ReplyDeleteAs that trade has closed I assume you are waiting for a new opportunity to reenter the gold/gold miner bull trade to continue the Qwest?
Yes I am waiting for the next daily cycle low in gold before I place the next trade.
ReplyDeleteOk, thanks. Well, just eye balling things I guess we should not be surprised to see gold trade, at least intra-day, down below $1275 or thereabouts, to break the current daily cycle trend line, sometime in the next week or so. Sound about right to you?
ReplyDeleteThat seems like a reasonable target.
ReplyDeleteIsn't that a bit overdone thinking gold could fall to $ 1275 now ? Even in 2 weeks ? Or has it something to do with an open gap on it's last run up ?
Deletebogi
It has to do with a daily cycle having to reset sentiment. It usually can't do that until the daily cycle trend line gets broken causing technical traders to sell.
DeleteIf Gold is going to put in a big move starting in July it had better not spend anytime under $1272 and silver under $20.50 or lift off will be under a wet blanket....spike it lower and reverse quickly!
ReplyDeleteSo far $1300 is holding back the Bears.....jj
I would rather see gold go down to the $1270 region or just under a bit more gradually, and lurk there for a few days, rather than a quick spike down. That, to my admittedly inexperienced eyes, would give more of an indication that we were putting some kind of new bottom.
ReplyDeleteIf it falls sharply to that level in, say, a day or two, and then spikes back up I would be wondering whether we had seen a new low for the cycle.
Just my two cents.
Good points Bob, if one looks at Gold bottoms using a candlestick chart very often its a long tail candle that puts in the lows, last June, Aug, Oct, Dec....the $1240 June low did not....lets see what this cycle low produces......jj
DeleteI think we can buy at this price!
ReplyDelete