Jake Bernstein of MBH Commodity Advisors
On Gold:
"A long-term cyclical top in gold has NOT yet been made based on my timing and trend analyses. Caution was advised; a correction down was expected, and it developed. Await an intermediate-term BUY recommendation. I believe that the market will go much higher and eventually trap many late comers just as previous tops have done.
If you have not listened to my advice for the last 3 years, then now is NOT A GOOD TIME to start listening because it's now time to begin unloading gold on the way up.
I advise you to SELL approximately 25% of your holdings and trail stop losses. If you go long then go only on serious declines to WEEKLY MA channel support."
On Silver:
"Long-term investors were advised to hold positions in silver and silver mining stocks. My long range target of $10 or higher was achieved. The next long-term resistance level and projection was in the $13 area which has been hit. What's next? $17 is a possibility.
The severe sell-off on Thursday 20 April is a WARNING that silver is NOT a liquid market. If you're a new trader, then my advice is to STAY AWAY, or you'll be grist for the mill."
Interestingly enough, he is far more bullish on the softs.
https://mywebspace.wisc.edu/dcartwright/web/mbh060501[1].pdf?uniq=d2gnvq
"A long-term cyclical top in gold has NOT yet been made based on my timing and trend analyses. Caution was advised; a correction down was expected, and it developed. Await an intermediate-term BUY recommendation. I believe that the market will go much higher and eventually trap many late comers just as previous tops have done.
If you have not listened to my advice for the last 3 years, then now is NOT A GOOD TIME to start listening because it's now time to begin unloading gold on the way up.
I advise you to SELL approximately 25% of your holdings and trail stop losses. If you go long then go only on serious declines to WEEKLY MA channel support."
On Silver:
"Long-term investors were advised to hold positions in silver and silver mining stocks. My long range target of $10 or higher was achieved. The next long-term resistance level and projection was in the $13 area which has been hit. What's next? $17 is a possibility.
The severe sell-off on Thursday 20 April is a WARNING that silver is NOT a liquid market. If you're a new trader, then my advice is to STAY AWAY, or you'll be grist for the mill."
Interestingly enough, he is far more bullish on the softs.
https://mywebspace.wisc.edu/dcartwright/web/mbh060501[1].pdf?uniq=d2gnvq
posted by Fresh at
10:30 AM
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