Monitoring Developments

4/24/14: Silver update as we approached the 200EMA as depicted in a below post. Let's look at the action up close as we approached it this morning during thin trading.

4/9/14

More big picture viewpoints:

Which is interesting because Silvers 200EMA seems to have been it's support during all of this:

4/3/14

Rounded bottom update; graphically.

April 2nd; 2014: Rick Rule explains the current environment best; I suggest reading his interview. Most people shun me because i'm a bearish on the broad market and don't believe a god damn word coming out of the central bank mouth pieces all over the world; but IDGAF. I'm sticking to my views and theories in this market because nothing fundamentally has changed since I was introduced.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/4/2_Rule_-_Anti-Gold_Investors_Will_Be_Destroyed_Before_This_Is_Over.html

As the roars and ridicule grow louder and louder from the heard at all the last few bears remaining; it only solidifies the euphoria phase of the market. I recently saw some data pulled on the history of money market funds and AUM. Money market funds are currently at a historic all time low; so anyone who says cash is on the sidelines; is ignorant to the facts. I'll try and search for the data and post it here later.

April 2014

(Disclosure; I don’t edit these documents; I say what I feel when I’m writing them and put it all out there for you to see the mindset where I come from) #candid

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/3/14_Billionaire_Sprott_Looking_To_Sue_Banks_For_Gold_Manipulation.html

^^Highly recommended read.

The larger picture is of course; the double bottom, it’s being looked at and discussed amongst many major institutional banks and their head technicians have sent out updates and targets that have been inline since mine off the 12/31/13 low. This is why the 1433 level will be so critical; lots of eyes on this because the target of the double bottom will be 1686 which puts us on a path through a lot of key breakdown and now resistance levels; there’s a serious of weekly moving averages (44week, 50week, etc etc) that all fall in that area of 1550-1686. So I don’t expect this to be a straight shot up there.

We made it up just shy of 1400 with the help of geopolitical events and then came back briskly to dance around the prior launch pad of 1300. Gold took the stairs up (literally as we’ve seen since I started writing these) and then the elevator down; literally.  The next two charts are having a look at the position of the slow stochastic and comparison of daily and weekly positions.

The Daily

 The Weekly with Daily noted by vertical lines

The Long Game: Seasonality could come into play; the white vertical line annotated on this chart is the end of the next quarter; which would put us at June-July before we can get another strong upside move off the rising parallel line. Accumulate is the game here; Rick Rules advice: use the volatility don't let it use you.  We are looking at a 200$ move in gold once we breach 1400. My year end target for gold is 1550. (Subject to change LOL) Check the blog for updates.

Now that we have the big picture reviewed again; lets move on to some trading tactics in the interim while we let our longs mature. Now I am going to point out a few observations that I have been monitoring with some supporting back up in the price that will be closely watched. The same chart I’m about to show you is happening on a few key indices. GDX (producers), GDXJ(juniors). $HUI  (Gold bugs index).