First off a status report on the website.
I spent about 3 hours on a conference call last night with the developer and transfer agent. The hold up is the subscription files. The original software that runs the subscription plugin is no longer in business so it’s impossible to get a re-install or support for that plugin. We tried to figure out someway to automate the process of transferring all of the active subscription files into a new payment plugin but because of certain restrictions there just doesn’t appear to be any way to do this without losing some critical information along the way. So unfortunately this leaves me with an incredible mess of having to do this entirely by hand. That means I have to sort through 5000 files, figure out which ones are active and which ones are inactive. Figure out who is monthly, who is biannaul and who is annual. Then once I get all of that done we can migrate the active files into the new subscription system.
This going to be a tedious process that will probably take at least 2-3 weeks. In the meantime we are going to reactivate the site as is. Everything should still be running fine the only problem is the malware spam links on the subscription page.
During this process I’m going to have to assign a temporary password to everyone’s account so that I can get in and check the status of the account. At some point over the next 2-4 weeks you will get an email from me with your temporary password. So if one day you try to log in and can’t, check your email to see if you have been assigned your temporary password (don’t forget to check your spam filters).
Sometime this evening the site should go back live and I’m expecting to publish tonight’s report back on the premium site barring some unseen difficulty.
Now on to the morning report:
As of this morning gold is trying to bounce off the intermediate trend line. If the intermediate cycle is still advancing this should mark the bottom of the daily cycle decline.
We’re going to have to see if this trend line holds through the rest of the day and whether or not we get a swing tomorrow.
Now for the dollar:
It’s pretty clear today that the dollar has begun a new intermediate cycle.
That may or may not force an intermediate top in gold. The knee jerk reaction would be to assume that since the dollar is probably going to rally for a month or more that gold will automatically drop during this period. I’m not going to make that assumption just yet because gold can, and has rallied right along with the dollar from time to time, just like stocks have rallied along with the dollar. All a rising dollar means is that the euro or yen is being printed more aggressively at the moment. It has no bearing on inflation or deflation.
For now we need to see if the trend line holds today and then if gold forms a swing tomorrow despite the dollar rally.