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Well, if the Annual Forecast Model is ‘on track’ we may have hit a short-term peak in Gold and could now experience a bit of a corrective phase into November (specifically, November 20). In truth, I really do not like using precise dates on the Annual Forecast Model, though it currently appears precise dates are working. The intent of the Model was to hopefully provide some general guidance with regard to general ‘cyclical’direction.
Despite the great calls I have made to date, no system is perfect. In technical and cyclical analysis small peaks or small bottoms can turn out to be big peaks and big bottoms. It takes time to confirm otherwise. i.e., the 20-year uptrend, is behind us The case for gold rallying into the stratosphere is unmistakable.
I was at a party last night with non-stock market people and when I mentioned Gold they looked at me in puzzlement and thought my position was extreme speaking of $2000 or $3000 Gold. I knew right away that I had a bird in the hand. Later, when we go to parties and the average partygoer is foaming at the mouth as they were a few years ago regarding internet stocks, then we have something to worry about. Right now, the setup is perfect. The Gold party itself has barely begun! Like all parties this one could run late, i.e., last for many years, so we have to be patient and know that the ‘big picture’ wind,and pushing us forward.
EDV.TO – Endeavour Financial Group – 1.81
EDV has declined from 11 in 2007 to 1.32 this past July and is posting a few Positive Volume Reversals ™ and appears to be forming a nice base. Look to accumulate o weakness, but I don’t think I would want to see it under 1.32 again.
Endeavour is an independent merchant banking company focused on the global natural resources sector. The Corporation offers advisory services in project, corporate and debt capital markets; equity financings; mergers and acquisitions; and strategic business development. Endeavour also provides equity and bridge loans in support of clients, transactions, and other market opportunities. Accessing its global industry networks, Endeavour creates and launches new growth companies as both an advisor and investor.
Ed Note: The above is a small fragment from this week’s amazing 10 page VR Gold Letter which is published WEEKLY.
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