UPDATE
Sunday Sept 28 I dont know what it is... it's either when I write about the Gold/ Silver/ Metals market or maybe its whenever I write something that is contrary to what the crowd is thinking, but after one of those two ideas is presented, I get a lot of feedback ( and I love it! ). I got a good number of comments below the previous article for the public to see, but also many write to me by email and share thoughts or ask questions too. It was really a lot of good constructive feedback, so thank you! I've decided to do a follow up to Thursdays report that I posted Friday morning and I've dug into more charts to explain what I am seeing. Some of it basic and some of it a bit deeper.
To start with, lets I review what was happening on May 30 2014. Gold had recently broken down from a "Continuation triangle" the 'measured' target was $50 lower, but most felt $1180 would be broken, maybe $1150 or worse would get tagged. EVERYWHERE I looked , articles were talking about "SEASONALITY" in Gold being Late July & AUG . THATS when "we should buy the bottom" , they were saying...the LOWS would be in then. I wrote an article saying that it might be time to buy now (I had entered JNUG & NUGT and few select Miners). That article is here if you want to read it. http://www.chartfreak.com/2014/05/31/learning-to-be-patient/
It Seemed that everyone was or wanted to go short- or just hated the metals all together.
As a quick review, the charts I used went like this MAY 2014- Triangle price projection near $1200, seasonal lows in Jul/AUG
I had noticed some very interesting things happening with Miners and even the Metals charts themselves, SO I posted this Next chart below as a contrary idea , one that would leave everyone waiting for "Seasonal Summer Lows" behind ...