Keep your powder dry for likely buying opportunity between now and mid-March. That trade may or may not result in a move to new highs, but we’ll update you accordingly along the way. Meanwhile, we’re in a downtrend and there is no definitive sign of abottom, so stay tuned!
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Since my December 3 ‘Sell’ signal for Gold, this market has reasonably con- formed to my expectations. I had discussed seeing the 1070 level as a pullback zone and indeedshortly afterwards we saw 1073. I also anticipated the formation of a 1070 to 1170 trading range which to date has been in force. We are clearly in a corrective phase and volume has been negative since the December high. My job is to follow the market and if the market says down I report it that to you. I, too, am a long-term bull on Gold and theprecious metals but we have to expect intermediate corrections. For the past ten years each year has seen periods of correction to varying degrees and the potential exists for very sharp corrections much as we saw in 2008 where Gold traded in the 600s. We could in theory see Gold back to the 800s and nothing would change the bigger picture uptrend. Current technical signals suggest risk down to the 960-970 level in the months ahead and there is always the potential generating lower downside targets. As a result, I am on the sidelines in the Gold market, but watching for trades in all the metals including Platinum, Silver, Palladium, Lithium, Copper and the base metals as opportunity arises.
The weekly VR Gold Letter focuses on Gold and Gold shares. The letter is available to Platinum subscribers for only an additional $50 per month and to Silver subscribers for only $70 per month. Email me at firstname.lastname@example.org.
Mark Leibovit’s forecast at the World Outlook Conference Jan 22, 23rd available HERE.
Special offer from Mark Leibovit for Money Talks only: The intense analysis of Gold in the 10-12 page The VR Gold Letter is right now 75% off for the first month or $29.95 (regularly $125.00 a month). Go HERE and use the Money Talks promo code CBC12210
Marks VRTrader Silver Newletter covers Stock, TSE Stocks, Bonds, Gold, Base Metals, Uranium, Oil and the US Dollar.
More kudos – Mark Leibovit was named the #1 Intermediate Market Timer for the 10 year period ending in 2007; the #1 Intermediate Market Timer for the 3 year period ending in 2007; the #1 Intermediate Market Timer for the 8 year period ending in 2007; and the #8 Intermediate Market Timer for the 5 year period ending in 2007. NO OTHER ANALYST SURVEYED APPEARED IN ALL FOUR CATEGORIES FOR INTERMEDIATE MARKET TIMING AS PUBLISHED IN TIMER DIGEST JANUARY 28, 2008!
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The VR Gold Letter is available to Platinum subscribers for only an additional $20 per month, while for Silver subscribers the price is only an additional $70.00 per month. Prices are going up very shortl, so act now! Separately, the VR Gold Letter retails for $1500 a year! The VR Gold Letter is published WEEKLY. It is 10 to 16 pages jam-packed with commentary and charts. Please call or email us right away. Tel: 928-282-1275. Email: email@example.com .