The Gold Bull Is Speaking - Are You Listening?
Mar 22, 2011
1. You’ve taken care of buying gold market put options for insurance, if you are nervous about a correction. Now let’s get back to your gold party.
2. There is no top in gold, and silver is not “overvalued”. Most investors are either bored or demoralized, having watched gold do little since October. Gold stocks have fared worse.
3. I don’t see it that way. I think most investors are looking out the back window instead of the front. That action is going to prove extremely costly to them.
4. I see you facing a new and extremely exciting range, which is gold $1400-$1700. You can watch the golden ship sail away, or face the range. Get on your gold trading horse and ride!
5. As of yesterday, I personally entered “ultra-active” gold and gold stock trading mode, while I watch most around me in “turtle in the shell” mode. Don’t cat nap, or you might wake up 15 minutes later, and find you missed the entire $1400 to $1700 ride! My mantra for the gold $1400-1700 area is “ramp it up now, to my golden maximum!”
6. Ramp up the activity, and be careful about how much capital you allocate to this new range. Just because we’re dealing with a new range of price does not guarantee that price cannot descend back into the lower part of the $1300-1400 congestion area. Still, it’s time to move forwards. Your focus now is the golden grid between $1400 and $1700!
7. If your core positions are in place, consider adding risk capital to actively trade gold in this new range. I’m buying gold every $2 down and selling every $6 up, with no missed buys, and am giving serious thought to buying every $1 down and selling every $3 up.
8. Yesterday I told subscribers that if we traded to $1435, the one-month top pattern in gold would be destroyed. We did trade there, so the pattern is finished. Click here now to view my one month gold chart.
9. Here’s a look at the longer term consolidation. As far as I’m concerned, price has already broken out upside, and the party is on! You can hide in a hole in the ground with all the top callers if you like, but my repeated suggestion is to buy some put options insurance, and re-join the party people on the long side. Click here now to view the longer term gold party chart!
10. Look at RSI. This situation is not a top. It is a consolidation. Consolidations have a 67% chance of consolidating the existing trend, which is up! Could the situation change, and it all unravels? Of course it could, which is why you buy your put options if you are nervous.
11. The oscillators are flashing buy signals, and price shows a down sloping mini rectangle, which frequently occurs as price rises up out of a consolidation! The party is on, and I feel very lonely here. Oh well, I’ll have to tough it out with just myself and my one friend… the cash register!
12. Here’s the GDX chart. I’ll give the bears their little microscopic head and shoulders top pattern. It sits there, viewable with my microscope, within the huge consolidation, within the mighty bull price blob! Attention bears, prepare to get mauled to death by the bull. Run, while you still can, because there’s not going to be much left of you at gold $1700!
13. Of course GDX could decline into the $40s, but I highly doubt that you are going to be lucky enough to see that, and buy it as it occurs. Price has a 67% chance of blasting higher, and I began what can only be described as a maniacal gold stock trading program yesterday.
14. My trading is going maniacal in terms of frequency of trading, not in terms of plopping wild amounts of risk capital or leverage into my perceived $1700 target.
15. The silver top callers are about to meet the lone ranger’s silver bullet. Silver is not overpriced or overvalued. It is over-top called, and nothing more.
16. Here’s the silver bullet chart. I’ve highlighted the SIVR-NYSE silver bullion fund. Price is gapping higher while the top callers and team silver shorty pants tries to figure out what is going wrong, again, with their toilet paper money obsession.
17. Look at the oscillators on SIVR flashing one buy signal after another, a veritable parade of “death to the bears” signals!
18. Sadly, this chart is not a buy signal for those who own no silver. Those with no silver bought at vastly lower prices (I’m talking about buying silver at well under $10) need to focus on doing what you failed to do on the buy side in silver in the late 1990s, in natural gas and food, now.
19. Don’t be a market fan. Be a market winner. There are many silver fans now, but few big winners. To get you started in food so you become a winner while millions flock to food later at vastly higher prices as fans, here’s the corn chart.
20. Corn is in a spectacular uptrend, with the MACD trading at deeply oversold levels, and showing a monster buy signal as price bounces off the parallel uptrend demand line. Look out your market window. Who do you see buying and building core and trading positions in corn?
21. The answer is that you see nobody buying corn except people like myself, and paid subscriber (& billionaire) T-Rex. Food rivals gold as the world’s lowest risk investment. Many can read that sentence, but, how many can live it?
22. As the Japan nuclear meltdown occurred, my pyramid generator (“pgen”) went into hyper-active buy mode. Twice uranium opened on a gap down move, and all-time panic selling volume sent most uranium investors to the US dollar in a cash-chasing frenzy, while my buy orders rivalled my Dow buying program fills into 6500 in 2008.
23. Click here now to view the 60 minute uranium chart. I had to move the volume down further in the chart settings because it was blocking the price bars it was so high! Uranium has moved like gold leaping from $1400 to $1800, yet I have received almost zero emails of a single booked profit from anyone, while my own uranium profit booking fills are coming into like a radioactive-free torrential downpour of money!
24. It is imperative that you conquer fear. Click here now to view the daily uranium chart. This chart shows epic buy signals, and that is after price has already made a “gold $1400 to $1800” type of super move upside! In all markets fear must be conquered. I don’t buy the gold top stories, and the only way to conquer your fears about such topping action is to trade smaller than you know is rational. Really, there should be very few days when you are not seeing buy or sell fills in the market on your trading positions, and all of them should be winners. Selling gold market and gold-related assets at a loss is an exercise in stupidity. Trade smaller, but get more active so you live in the now, rather than looking out the rear window of the most exciting time of the bull market!
March 22, 2011
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