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Look at Gold go! I have been telling, no pleading with you to get on board the Gold train for the last 2 months or longer. Hope you hopped aboard. Now Gold is at a key testing point. If we can successfully close above, and hold above $1000 then we definitely will be off to setting a new all time high for Gold. What will happen this time is that we will see a concentrated efforts by the Big 3 Shorts to push Gold down back to at least $950. If that does happen do not be alarmed, Gold will come roaring back. We will see Gold at $1250 to $1325 by the end of the year. I think we are going to take out $1034-36 high and go to $1080 to $1150. Then we will have a retracement back to $1000 to $980. Then we will start leg number 2 and zip up to $1250 with the rally going strong thru December. There is still plenty time to get in and plenty of undervalued Gold and Silver producers. Don’t forget to add some Platinum/Palladium producers as well like (PAL) and (ANO). I will be putting up a portfolio list in the next week of companies I am personally invested in. Also for some quick bang for the buck without the total risk you may want to look at (DGP) an ETF which gives you 2x times the future price gain.
As for stocks we are now forming the right shoulder of the head and shoulders top formation, expect choppy, whipsaw action as the beleagured bulls try to hang on. However they (the Bulls) will run out of energy and the market is getting ready to collapse. A close below 9300 will signal the beginning of the failure. Below 9250 will confirm, and absolute confirmation with a close below 9000. I do think tomorrow (Fri) we have a chance of seeing 9400-9425 and then start a gradual decline accelerating at the end of next week. As always Great Investing! – jschulmansr
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Nothing in today’s post should be considered as an offer to buy or sell any securities or other investments; it is presented for informational purposes only. As a good investor, consult your Investment Advisor/s, Do Your Due Diligence, Read All Prospectus/s and related information carefully before you make any investing decisions and/or investments. – jschulmansr