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Gary,
Is the only reason you see gold soon breaking its downward trend line and heading to $1300+ because silver is leading and has already broken its trend line?
Usually when silver leads gold will eventually follow. BTW gold did break the trend line this morning.
Bubble phase begins???!?!? Are you asleep? I’d like to see you post your trading account based on your silly drawings. You’d be broke!!!!
Bubble phases begin out of a deep scary correction and then they rally 100% or more in a very short period of time. Biotech hasn’t done either of those yet. It’s just setting the stage right now for the deep correction to wipe the slate clean so to speak. Then it will deliver the final bubble phase launch out of the corrective low.
Look at oil in early 07 to see what I’m talking about.
We handily beat the S&P last year so the portfolio is doing just fine, and we’re beating it again this year so far also.
According to your charts Gary – Wouldn’t that imply a left translated 8 cycle for Gold?
Technically gold’s 8 year cycle is left translated, so there is even risk that it could drop below $680 at the next 8 year cycle low, although I have my doubts it actually will.
I agree, Gary. However, don’t you think that a close below 680 on the yearly level would be very dangerous for the bulls ?
Yes it would. I’m not really expecting a close below 680, but I am expecting a move below 1000.
Biotech finally going down Gary. I am stil watching for the buying opportunity.
wait for the ICL in May.
What biotech stocks/etf’s would you recommend to watch Gary? and thank you for sharing your knowledge with us, many things we can’t learn as it comes with years and years of trading…
IBB or BBH
Buying opportunity is not here yet. This is a waiting opportunity. I think we are due for a DCL here that may or may not be an ICL also. Watch and see how it unfolds. Gary was calling for the cycle low in May… I think April. I think very very early April, actually, if it is to be a DCL. Could be later in April if an ICL also. Regardless, keep that finger away from the trigger just now. There are no buying opportunities to look for just now.