Professor’s Comments August 30, 2013

Posted by professor  at August 30th, 2013

With the Dow down about 10 points, I find it interesting that most of the talk this mornin3g is about how gold is falling 20 points. Hmmm?

Didn’t we just talk about this at the Update Class?

Didn’t we talk about how 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.

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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