Today, May 10, 2013, as you are all aware, gold and silver dropped as was posted April 19, 2013: http://www.jsmineset.com/2013/04/19/1300-goldnever-again/
It stated… “As you are aware, I sold my silver at $49 and gold at $1900. Since January 2013, I have provided you my Gold Updates. Today I provide you what I expect to see from Gold these next few weeks. Please see the below Gold chart with specific dates and approximate price targets that might/should be reached on those specific dates.
Please note the blue chart arrows are date sensitive, not price sensitive. As the dates are hit these waves will end and change direction regardless of price.
The next two dates to watch for are as follows:
(I) May 2-3, 2013 – INTERMEDIATE TOP
(II) May 10-13, 2013 – PULLBACK BOTTOM
NOTE: PRICE TARGETS MIGHT VARY, DATE WILL NOT. WATCH DATES.”
This drop will mark the low off the May 3, 2013 high and turn date. I am providing you an updated chart on GLD for your careful review:
For GLD/Gold, the target for the bottom to re-enter long is Monday, May 13, 2013, HOWEVER there is a possibility of one extra day down into Tuesday, May 14, 2013 for the FINAL LOW. Therefore, the safest re-entry would be Monday only if Gold is closing UP at market close or Tuesday’s close if Gold closed down on Monday. After Tuesday, it is all over… that is key!
For SLV/Silver, silver’s current price is NOT FAR FROM A SUPPORT BREAK! Like Gold… there is the possibility of ONE EXTRA DAY DOWN into Tuesday, May 14, 2013 for the FINAL LOW. Therefore the safest re-entry for silver is the same as gold above.
Please remember, price is not as important here as time! If you wait for “your” price, you may never get it! Pay close attention to the day count posted above and the next UP CLOSE and this will give you confidence in your trade. Buy the up close, the price is the price period!
For those of you who buy and hold, sleep well my friends and know that your decision is a wise one into the year 2020; gold and silver however will have a very long and bumpy road ahead! Lastly, the “true” Bull Run you all wait for is not just yet, the general markets will first correct.
I wish you all well.
Have a great day!
CIGA Bo Polny
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