Wednesday, April 30, 2008

Sunday, April 20, 2008

$3000 gold before 2020

We are going to see $3000 plus Gold and $130 Silver before 2020. I am as sure about this as the nose on your face, which I can't see, so any prediction is a matter of faith in the prior record of the predictor. BUT WHAT ELSE IS GOING TO PRESERVE YOUR BUYING POWER IN TODAY'S 12%-PLUS INFLATION AND PERSISTENT DOLLAR DEVALUATION??!!! These are the ultimate currencies of last resort. Frankly, you can have the Euro and the Swiss Franc, I will take Gold and Silver over paper every time.

Wednesday, April 16, 2008

New buy signal for broad markets

Tomorrow I will take a position again in AUY.

Today I issued a new buy signal for the $INDU and broad market averages. Well what do you know? Yup another whipsaw. A Hindenberg warning was registered 2 days ago but surprising strength was seen today. Even though my indicators say buy I am going to wait for confirming signals on a weekly close before buying again. The $HUI Gold Bug Index was up sharply today signalling the start of a new bull run for the precious metal stocks. Use a close below 937 gold for an exit if this trade goes against us. FCX (our leading indicator) is pointing to new highs soon for precious metals in '08.


Gold broke above support at 940 this morning and I am issuing a buy signal for bullion and for precious metal stocks.

Sunday, April 13, 2008

GE Plunges--I look for Gold and PM Stocks to Follow GE lower and then rally

Be patient. See this chart on public charts by Joe K. Reed

General Electric gaps down. I look for retest of January lows.
Gold and precious metal stocks will also test support-a sideways consolidation and then rally

On a personal note: Spent the weekend in Texas at my second home at Horseshoe Bay. I was able to play golf in the Masters MGA event--had a great time. My two sons and their families live in that area and it is our favorite gathering spot.

Tuesday, April 1, 2008

Buy signal for $INDU--GOLD PLUNGES

Gold may find a trading range for next few days but new lows down as low as 800 remains likely. Then load up with both hands PM stocks. REVIEW OUR BUY SELL SIGNALS FOR GOLD AND PM STOCKS. I THINK THESE SIGNALS ARE SOME OF THE BEST ON THE WEB. GOOD LUCK AND GOOD TRADING.