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Flying Saucers

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

I just wanted to point out how well-formed the long-term bullish saucer pattern is with gold, the one asset whose ascendancy I cheer.

And in case you don’t think gold can ever go ga-ga, remember the late 1970s

To be honest, I think for the moment precious metals have gotten a bit away from themselves, so – gasp – I’ve shorted GDX and SLV. But my “for realz” bullion holdings aren’t going to get touched for years, or decades.

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

 


Skating on Thin Ice, Keep Life Preservers Handy

We may be skating on very thin ice here, but the weight of the evidence still supports a weak bull case for the near to intermediate term. So I’m adding buy picks on the chart pick list and adjusting trailing stops to account for the risk.

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These reports are not investment advice. They are for informational purposes, for a broad audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance. 

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