Gold Bugs Feel The Wasp Stinger.
As promised, here is the most recent ‘trends alert’ we sent to our full paid members 1 day ago.
**TRENDS ALERT MESSAGE** sent 5/2/10
This week we were expecting the dollar to strengthen and we can see the USD going even higher.
The US dollar is in a lot of trouble, however technically for now, we see that higher prices are quite likely in the short term so stay vigilant.
I know I have talked about a rise in the dollar which could in fact put pressure on the metals also, and now we are seeing solid evidence of that. For those asking yes, we still have our metal shorts (gold, silver)in the markets which are working very well. and we remain solid on the fact that if the dollar keeps rallying we will continue to see more downward pressure on metals and the stock markets also.
One must play with extreme caution here but you must realize technical analysis rules on all levels, not idiots brokers, fund managers that don’t know what they are doing and others with simply no clue. Our members have seen how powerful technical analysis is when we rode gold up from the 900 dollar an ounce market all the way to 1200 level last year (2009).
We have lower targets in the stockmarkets but are still worried for metals and metal investors especially those who got in late.
Our studies now indicate that it is a real possibility that gold could come down even in to the 3 figures level. YES, below the 1000 dollar an ounce level and seeing the negative market action yesterday that seems to be confirming our thoughts.
We do see a time and perfect opportunities for buying gold back, because we have been buying on the big dips, but that time is not in front of us yet as we feel.
There are lower targets also, but we We will talk more about this in our newsletter that is coming out in the next week or so.
Regards
John S.
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