Note that the 20% advance from the lows has occurred in steps. Technically, this is known as a "Swiss Stair" accumulation. Don't ask me why they call it that. The name is the name. At any rate, this type of chart pattern is your most certain sign that the buyer(s) of size I so often mention is truly at work in the gold market. The buyer(s) accumulate, then market reaches equilibrium and adjusts to the new price range. The buyer(s) then accumulate some more and so on. I expect this trend to continue, perhaps until the Comex is finally broken and The Evil Empire has been defeated.
Below something regarding this swiss stair case ... now what is a properly constructed swiss stair, which are the rules?
ReplyDeletehttp://thisis.peakdoom.com/content/jim-sinclair-swiss-staircase
http://jsmineset.com/2009/11/09/comments-on-todays-chart-from-trader-dan/
These folks, JS and Dan, knew already at that time that GS was long gold, I rmember well JS words, that it isn't what it looks like - and that in fact those believed to be our enemies are on our side. Now if I add Midas "the Stalker" we should have at least two good sized buyers on our side: GS and that chinese investing group - Gold 1600 by March 2011.
Cyclist expects Silver to double into mid 2011.
boricuadigm-shift (ZH) - I traced all your writings from today (11/19/10). Let me just say that this site rocks. Lots of technical information and spot on forecasts!
ReplyDeleteThanks Turd! You made it to my Favorites! :-)