“We experienced ‘Key Reversal’ in GLD on Friday…..
These small excerpts are from Mark Leibovit’s 12 page The VR Gold Letter
………i.e., a higher intra-day high followed by a lower intra-day low all on increasing volume.”
“Recall, I told in last week’s report I reiterated previously published trading objectives for GLD, namely, 117.00, 119.54 (the December 3, 2009 high) and then possibly 124.00! So, for now it appears 122.24 may have been the top of this move.”
“As you know, I’ve been a “gold bug” for years and we have profited together as a result. I still think we have a lot more room to rally, but one has to express some reservations when the mainstream media starts talking about gold. The NY Times presented “A Case for Gold at $5,000 an Ounce” this past Thursday. I too have projected figures like $3000 and $5000, but when everybody else starts talking about it as well, it may be time for a correction. Hold on to your bullion, but we’ll continue to trade both sides of this volatile gold market.”
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.
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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