Gold At an Edge

Things look better, the market began to rebound, and we were able to profit EVERY day on our call recommendations this week. Gold also hit the sweet spot twice and we were able to profit 40 to 50% on the same October Gold option in a 7 day period.

We see so many intraday reversals, all on "trigger news:" short term cycles may be up but we see a long term count, or cycle showing weekly cycles bottoming in October.

This means the "upside" we had from our shellacking this past month will only bring us the same old highs, and not near the highs we had reached.

Gold we see as "at an edge." As long as it doesn't close below 1736 (note close, not intraday swings) and if silver does not close below 39.40 precious metals are still in full gun and spirit and we don see any "top" being reach until perhaps the third week in September.

Our theoretical Dow projections were so uncanny this week that we hit almost each support and resistance line, and traders were able to make a living all week trading our OEX symbol or a stock. Remember, Dow projections work for the whole market and our pivot point calculators provided to you also work perfectly in short term or day trading a stock.

Study only a few stocks, no more than 50. Become expert at fewer than ten. This is pure Wyckoff, and we as traders seem unable to stop reading of new "great trades," or earnings reports.

if you have not learned by now that financial statements and earnings reports, audits and financial reviews can and often are completely falsified you have missed it all.

But how the stock is doing to me, or even what the stock is, is far less important ( as are most of the technicals) than the PNF on the chart and the long term cycle.

Ex: Oil looks on a downward cycle in down until November or early December according to the cycles. We would be testing lows at 82.20.

XOM is, as an example, only a few weeks from being a nice long term buy that we later buy options on.

Currency traders: we are often playing the Euro in Advanced Mentoring, and we are just beginning to follow more the Canadian dollar; we may be in a position to go long on this currency within weeks.