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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (14238)	6/28/2013 11:12:54 AM
From: Pogeu Mahone	Respond to of 33421

nice call good timing

To: ajtj99 who wrote (14238)	6/29/2013 8:00:36 AM
From: John Pitera	1 Recommendation Recommended By dealmakr Read Replies (1) \| Respond to of 33421

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

To: ajtj99 who wrote (14238)	6/30/2013 1:28:58 AM
From: chris714	Read Replies (2) \| Respond to of 33421

I agree with you Aj and was putting my money where my mouth was this week....I started buying Wednesday afternoon(NUGT, SLW,RGLD & NUGT Calls). I have metals positions(unfortunately) that were purchased in February but I quit adding in March due to the relentless slide. However sentiment got so bad on the 26th that I felt I had to step in. To me the HUI/XAU stocks felt like death on Wednesday...or maybe worse. I have felt that before in other markets. Feb 09 for the SPX..Oct 08 for the HUI..etc I figured that we would get a big dead cat bounce if nothing else...still not sure if we have hit a long term bottom but if not, we have to be close, Chris