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The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

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Gold to Rally $80 into October 14th?

I admit I missed the GDX move down to 22.93 today, but at the same time it has presented itself with a great opportunity. The chart below is predicting GDX 29.84 by October 14. I am now leveraged, extremely leveraged with options for a strong rally ahead in gold and GDX.

A lot of negative bias now in the precious metals complex has me thinking the other way: and that is a massive short covering rally ahead. The e-wave look and cycles suggest the same. The "nonfarm payrolls report" on Friday could be (likely) the catalyst.

Also, I believe the SPX could go as high 2236 by October 14. A lot of negativity out there in the stock market coincides with my charts saying: "The top is not in yet!"

Do I believe that a large drop in gold, silver, GDX and SPX is in our immediate future? You can bet your bottom dollar I do. The charts below explain everything.

GLD Daily Chart
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SLV Daily Chart
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GDX Daily Chart
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SPX Daily Chart
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Another thing I wish to mention: please don’t trade this or any other forecast verbatim without getting proper updates from the author. Tracking the stock market is much like tracking the weather: you need to have regular updates. Things can and do change. With the changes, come strategy changes.

 


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Brad Gudgeon, editor and author of the BluStar Market Timer, is a market veteran of over 30 years.

The subscription website is www.blustarmarkettimer.info

 

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