Golden triangles part two
Nov 6, 2006
Folks, we have a major breakout
in gold and silver this week, and if past history is a guide,
we are looking at new highs in both metals in the near future.
Those who are not familiar with these "golden triangles"
phenomena can read part one first at this
Let's go to the charts.
A beautiful breakout we've
been waiting for.
In silver too.
The breakouts in both metals
coincide with the breakdown on the dollar. No surprise.
All breakouts from previous
triangles have led to new highs.
So, when and what do we buy?
GLD - our model gave a buy
signal on 10/13, and subscribers are long from $58.57.
SLV - we are long from $116.40.
GDX - US traders bought this
XGD.TO - Canadian traders bought
this at $70.29.
If you read the first article on the golden triangles written
in July, the current breakout is exactly what we've been anticipating.
In July, the price drop was satisfied for the base of the triangle,
but time was needed for the completion and subsequent breakout
of the triangle. Six months was the minimum time required on
previous triangles, and that is now satisfied, as the current
triangle began in early May and now the breakout in early November.
Our trading model gave us buy signals in the gold and silver
ETFs in October, confirmed by our proprietary cycle indicator
(not shown here), and we are fully positioned with risk now down
to zero. In fact, if we are wrong or early, we stand to make
a profit from our well timed entries. Newcomers and new money
can buy when we have more set ups, possibly upon the completion
of a pullback which could occur now or at higher levels. Subscribers
will be alerted in real time when these set ups occur.
End of report
Nov 3, 2006