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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: gold$10k who wrote (45188)6/29/2013 8:29:50 AM
From: John Pitera1 Recommendation

Recommended By
Anchan

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To: ajtj99 who wrote (14238)6/29/2013 8:00:36 AM
From: John Pitera of 14242


Hi AJ, gold and silver have just made an exceptionally good trading bottom and in fact this may be a very important low we have just made on Friday...... the trading community is so bearish and short that a short squeeze move is either already at hand or is nearby... I concur with your analysis.

1175-80 is major support for Gold and 18 to 17.50 was my downside objective for silver.... the HUI and XAU have been giving momentum divergence buy signals for several weeks.... as I mentioned on Thurs... I believe
Dr John Najarian was picking up the Silver etf because the market was so washed out..

#Breeze has such a great wave count that I am borrowing his and then will show you my daily and hourly gold and silver charts.. which are actually above...this is time to cover the gold and silver shorts and establish long positions and for those who are long term bulls and already have a percentage of their asset allocation models in the precious metals we are now at levels where we should be adding additional long side exposure to the portfolio's...The developments that we are going to see in the currency markets and the yield curve and borrowing rates in China, India, Brazil as well as the PIGS in Europe will be manifesting in fear of fiat currencies and municipal, state, and government insolvency concerns.

John

------------------

and many thanks to Breeze for his most excellent chart.....He is definitely worth following.... JJP

Breeze (aka A.R.)





the DJIA is a text book sell as it comes up to it's 50 day ma from underneath and the 50 dma has started to roll over.

John
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