Chart Review

222
Thu, Oct 20, 2011 - 9:58am

We haven't had a chance to discuss the longer-term charts for a while.

Before you look at these charts, it's probably best to remind you of our year-end goals. Keep in mind that, since 2001, gold has had an average gain of about 25%/year. Consequently, my goal for 2011 has always been $1750. Yes, all the excitement of August led me to think that $1750 was a bit on the low side but now, with the benefit of hindsight, it still looks like the right number. Are you wondering about 2012? Take $1750 and add 25%. As for silver, I would not be surprised to see it end up about flat on the year. This would mean a 12/31 close of somewhere between 29 and 32. Silver is a little harder to pin down as its pattern isn't as long and consistent as gold's. Either way, I expect a BIG 2012 for silver so a relatively flat 2011 in preparation would make some sense.

OK, first up is gold. Note that, on the daily chart, you can see plenty of strong support between 1580 and 1600. However, you should also take a long look at the weekly chart. Corrections seem to come about every six months and they almost always dip down to touch the lower end of the channel. So, do not be surprised if gold teeters a bit at 1580 and then gets a square shove from The Bernank down toward 1500.

The daily chart of silver shows pretty stout support below $30. That may continue to be a bottom. However, like gold, do not be surprised if silver gets pressed down all the way to the blue line on the weekly chart. This could drop silver as low as 24 or 25. Having price drop that far would present an extraordinarily compelling buying opportunity and it won't stay there very long, I can assure you of that.

I've gotten a few inquiries regarding copper so here are charts of it, too. Further weakness in copper may provide the catalyst for the PMs to move lower so ole DrC must be watched closely.

Lots of crazy stuff going on again today so my advice to you is to sit back, relax and enjoy the theater. Oh, and keep stacking, too. TF

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WebSpellChecker.netRuNuts
Oct 25, 2011 - 7:55am

On October 20,

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WebSpellChecker.netSilverDog
Oct 25, 2011 - 7:54am

On October 20,

On October 20, 2011 www.spellchecker.net was reported as malware by Google due to embedding third-party content. While using Hosted SpellCheckAsYouType (SCAYT) and WebSpellChecker (WSC) services you could see a warning message about malware from web browser - Chrome or Firefox. WebSpellChecker.net team has resolved the issue immediately and Google approved the fix. Starting from October 21, 2011www.spellchecker.net is not reported as malware.

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Your users and you would not receive any warning messages if the application were upgraded to the latest version. The instruction how to update the version can be found herehttp://www.webspellchecker.net/blog/?p=909

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WebSpellChecker.netMudsharkbytes
Oct 25, 2011 - 7:53am

On October 20,

On October 20, 2011 www.spellchecker.net was reported as malware by Google due to embedding third-party content. While using Hosted SpellCheckAsYouType (SCAYT) and WebSpellChecker (WSC) services you could see a warning message about malware from web browser - Chrome or Firefox. WebSpellChecker.net team has resolved the issue immediately and Google approved the fix. Starting from October 21, 2011www.spellchecker.net is not reported as malware.

We would like to assure you that the WebSpellChecker.net software itself has been working properly; it's only the part of the website www.spellchecker.net including free services pages was affected. We apologize for any inconvenience it may have caused you or your users.

Your users and you would not receive any warning messages if the application were upgraded to the latest version. The instruction how to update the version can be found herehttp://www.webspellchecker.net/blog/?p=909

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WebSpellChecker.netSilverDog
Oct 25, 2011 - 7:07am

On October 20,

On October 20, 2011 www.spellchecker.net was reported as malware by Google due to embedding third-party content. While using Hosted SpellCheckAsYouType (SCAYT) and WebSpellChecker (WSC) services you could see a warning message about malware from web browser - Chrome or Firefox. WebSpellChecker.net team has resolved the issue immediately and Google approved the fix. Starting from October 21, 2011www.spellchecker.net is not reported as malware.

We would like to assure you that the WebSpellChecker.net software itself has been working properly; it's only the part of the website www.spellchecker.net including free services pages was affected. We apologize for any inconvenience it may have caused you or your users.

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Jelogue
Oct 21, 2011 - 9:04pm
RuNuts
Oct 21, 2011 - 1:22am
Platinum_Investor
Oct 20, 2011 - 8:27pm

Thanks everyone.... Margin

Thanks everyone.... Margin calls is not my problem, I'd got to sell $150,000 of my mining shares that's a small portion. I sold $500,000 today in a seperate account.

I'm also nervous I have all my physical in Brinks New York vaults. I worry that it will one day if shit hits the fan get confiscated, especially a non citizen I am being Canadian.

One person mentioned my actions and words are a signal of a bottom. Really? I have told myself that as well yet it keeps dropping. I bought my Physical at $14-19 for silver and $800-950 for Gold. So that's not my concern it's my damm mining companies I've invested 75% of my money in that just doesn't seem to go anyway.

They go down bigger on down days and less on up days. Man I am super frustrated.

I'm a damm good day trader. I've studied charts and T.A and can feel the market minunte to minute. I trade FAS and FAZ 3X long and short financials and have done well.

Tesla
Oct 20, 2011 - 7:44pm

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