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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Veteran98 who wrote (207670)	12/13/2011 8:52:38 PM
From: Claude Cormier	7 Recommendations Respond to of 313001

Veteran, So busy with a lot of things,including, working on the final touch of my new website. Yes interesting surprise with gold. I would have tought a breakout to the upside of the triangle from the September high. But like it happens very often, the break was in the other direction. We are now very close to the 200 day average which may hold on. But no garantee. I can see the possibilty of the September low being tested. There is very good support at $1500-$1550. If this doesn't hold, $1400-$1420 is next, and that should be max pain. And in the worst case, there is the long term trend of the secular bull which currently sits at $1220 or so. But I see the worst case as a very very low probability. $1420 is certainly possible and it could happen fast. The faster the better for gold stocks which may not have the time to follow gold. Testing the low of September near $1535 or holding up above the 200-dau MA at $1615 is what makes the most sense. And this would be more or less normal, in line with the 2006 correction. Bargain hunting coming. A good freind who post here from time to time suggested to me that this may be the cause of the break down. You know he could be right. silverdoctors.blogspot.com For sure it could be the trigger.. but I don't think it will be bad for gold long term. Au contraire very positive.