Professor’s Comments Gold update

Posted by professor  at September 1st, 2013

Several gold stocks have ‘Jumped the Ropes’ in an apparent wave 1, and now have to pullback to develop their wave 2 Blades. Pretty cool how this happens, isn’t it?

Anyhow, during the next few weeks, we need to watch gold.  If the pullback is shallow and the Blade continues to develop, we might want to fall in love again with the metals.

On the other hand, gold starts to fall hard, we could see one more leg down near 1100+.

That’s what I only consider the metals to be trades now.  Pay attention to the indicators.

TWID,

h

Not sure of the terminology we use? Check out these articles

The Hockey Stick Pattern
The Creation of Waves and Trends
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