WARNING ON STOCK MARKET AND MY OBSERVATION ON GOLD AND SILVER : BUSINESS DESK CHIEFSWORLD
CHIEFS WORLD
With MF Global's demise, it has stepped up this isolation/insulation
plan of mine a bit sooner than I expected. A move down to sub 9k Dow
could pop a few more brokerages. Be careful.
My plan from this point forward is to stay in cash and metals
(physical), and out of bonds and stocks. In the next few years, if
property rights are still protected, I'll be looking to buy up
depressed real estate for cash or metals (If I can do a 'swap').
The November 10th fibo turn-date window I mentioned for gold did
indeed score a top as expected. The next turn date window that I see
on the daily chart comes in at about Dec. 8th and 9th.
As you know, I've established at plan to convert some physical gold to
physical silver. At the November 10th turn, I sold my gold position
allotment for this time frame between 1770 and 1800. Now I am looking
to pick up Silver, preferably with a GSR between 57 -60. The multi-
month correction that I spelled out since September looks likely to
end by late December to mid-Jan.
I still think Gold is headed to 2400+, likely within 8 months. I also
think silver is headed to $95-130, aiming for a GSR near 25 to 16.
After another SM dump is fully realized, QE3 will likely get a green
light. Stocks might recover some, but I think commodities and PMs will
see the greatest velocities in value. Our Keynesian leaders only know
one 'solution', more printing.
US Stocks put in another lower-high since the July top. Second lower-
high since the May top. All bearish looking. The Dow pinged the 78.6%
fibo at 12,290ish and has trended lower since. Appears to be the end
of wave 2. Daneric has a fair bead on it.
I mentioned earlier this year that a time of Chaos was starting,
that's right.....just starting. My friends, please, do yourselves a
huge favor, establish a store of food under your roof, before you do
anything else. 6 months for you and yours is a good start, expand to
12+ months if possible.
Disclaimer: Nothing I say is advice, please do your own research and
consult a licenced financial advisor. Remember that investing and
trading is risky