Where To Now - Gold and Gold Stocks

By: Jon Kopel | Thu, Mar 13, 2014
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I believe we are on the cusp of a down move, but to a higher low, not a retest of the lows or new lows. Targets by April 8 - SLV-18.5, GLD-122, GDX-23, AND GDXJ-35. From April 8 to April 11, I see a bounce up, then a retest of the April 8 lows by April 16 or 17th. But this should create a bullish divergence with a higher RSI. Then another sharp move up by ending around May 14. I think we will end up forming a multi-month basing pattern with a head and shoulders bottom pattern with the December 2013 bottom being the head and the neckline for GLD-132, GDX-27 and GDXJ-44. I don't think the 5th and final, multiyear move UP in the precious metals will begin until July of this year. Of course this will take the metals to new highs over the next few years. This analysis is based on vedic astrology and technical analysis.

Eventually the paper metals (as opposed to the physical in your secure possession) will become worthless.

If the State decides it wants our money, gold, what will you do? The banksters stole the people's money right out of their bank account in Cypress. EU finance ministers have agreed to a plan that will make every bank account in Europe vulnerable to Cyprus-style bail-ins.

What makes you think they won't do that here in the good ole USSA?

If you don't think that will happen here, check this out: http://www.maxkeiser.com/2014/01/myra-we-warned-you-in-2012-obama-begins-push-to-confiscate-iras-401ks/

 


 

Author: Jon Kopel

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TRUE MONEY SUPPLY

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