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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: CalculatedRisk who wrote (47761)3/5/2006 10:18:49 PM
From: mishedlo  Read Replies (3) of 116555
 
kitco.com

Admittedly, the price range between those gold chart channel lines is a whopper. Seeing 100 points of price between $450 to $550 before the event is visually apparent is difficult to believe and very hard to digest. It takes a clear conscious and strong resolve to become a long gold buyer. Today, we are within the next new circle period indicating gold is going to sell and retreat. Precious metals aficionados are quite attached to gold and never want to see any serious selling in their favorite market. We must recognize however, that periodic profit taking is both normal and desirable or how else do we get our money out and earn some good bucks? Those CNBC cheerleaders who scream buy and hold forever provide great amusement but somewhere, sometime, you have got to take profits or this whole business is just a silly and very expensive exercise.

We are not saying you must be active day traders or even weekly swing traders jumping in and out of gold futures and stocks like a jumping jack. That is a game for screen watching pros not the rest of us in this gold business. Rather, we suggest dividing the year into two repetitive, normal, substantial rallies. The first is August to Thanksgiving. The second arrives late in December or early January continuing through March. Buying and selling twice a year to participate in those two main gold moves provides us with most of the longer view upside move
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