Six days ago I wrote this comment for gold-and gold-miners shares:
'With currencies all over the world in turmoil, gold-will likely continue to rise. Other gold-investment vehicles will likely rise, such as the gold-miners shares.
I believe a portion of your portfolio should be in-gold, especially with most world paper currencies in trouble because of "slow growth" economies and/ or massive debt. At some point in time I think something will indeed trigger a sharp down-draft in paper asset classes'.(end of review)
Gold-had a terrific breakout this past week. Brexit was the trigger. My opinion: stay long in gold-or-gold-miners.
Let's review Don's TRADE-MAP approach:
TRADE = 1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces.
.....MAP = 6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance.
When I mention "Don's Top Ten Technicals", I use the elements of the "TRADE-MAP" approach:
1. The is rising. 2. GDX-Prices have risen above the cloud. 3. Prices are trading above the thick red Conversion line. 4. The thick red conversion line is also rising. 5. The thick black line is the Ki jun-Sen baseline of the , which is rising and above the cloud. 6. The indicator on the top of the page is / , and this is strong-reversing off its bottom. 7. The top middle indicator is and it is strong (green over red). 8. The Top (bar-type) indicator measures the "phase energy" of the stock , and this is EXTREMELY STRONG. 9. The green arrows are up (not shown). 10. Look to the far right on the chart, around $25. You will note a yellowish line on top (lips), with black dots below (teeth), and a blue line (jaw) below the black dots. Now, all three are rising, correct? This is where I ask you to use your imagination and envision these three items as the "separated jaws of a feeding alligator".
I think paper asset classes (stocks) are vulnerable, especially financials. This should continue the "flight to safety" by investors and traders.
I would like to close this contribution with THREE Rodney Dangerfield quotes:
1. “My wife and I were happy for twenty years. Then we met.”
2. “I could tell that my parents hated me. My bath toys were a toaster and a radio.”
3. “I found there was only one way to look thin: hang out with fat people.”
My goal is to entertain and inform. I hope all of your trades go well. Don.