We May Have Seen The Bottom In Gdx - In Price - But Not In Time!

By: Jon Kopel | Sat, Jan 4, 2014
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In order for a continuation of the bull market in precious metals to resume, a base needs to be formed. For the permabulls, sorry to break your bubble. The next SUSTAINED leg up in the precious metals will not begin until July.

In the near term I see a high in GDX of 23-23.5 by the close on Tuesday, 1/7/2014. Then for one month with a gradual decline and another retest of the recent lows (GDX-around 20.2). This next down move will end around 2/11/2014. Then again a sharp, but short upmove from the recent lows of 20.2 to maybe 23.5, maybe as high as 25. So this move up will begin approximately 2/11/2014 and end on 2/28/2014.

Then a correction of that upmove will take place. March, April, and May, I am not sure what will happen, but the next SUSTAINED upmove will not begin until July 2014. This analysis is based on vedic astrology, because it works.

At some point in the not too distant future, your "paper" gold will become worthless, when the collapse happens. Remember there are roughly 70 claims on each ounce of paper gold. Only if you hold the physical will you hold anything of value.

Why did the US government tell Germany "No" you can't have your gold? Because they don't have it anymore.

 


 

Author: Jon Kopel

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Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/