*Exciting day today! Gold put in the daily cycle low yesterday and accomplished a swing first thing this morning. Today was Day 1 of a fresh new daily cycle for gold. These tend to run in length from about 20-25 days. Without a doubt in my mind this daily cycle will take gold to new ALL-TIME HIGHS.*This daily chart is of DB Gold Double Short ETN (DZZ). This short term trade made sense on the notion that gold would fill in the gaps below $1205 and retest the monumental $1200 price, but it was not to be. Just to keep everybody off balance gold zipped down to $1210 yesterday and zipped right back up to $1230. That, my friends, was the extent of the correction. Anyway, I took a 2.3% loss and did a lot of buying to make myself feel better :)*Click on the charts to ENLARGE*This second daily chart is of Cardero Resource Corp (CDY), which I bought more shares of at $1.02. Believing as strongly as I do that the bottom is in for gold, and also, or nearly also for the stock market, I could not resist buying even more of this stuff. The wedge I have drawn on the chart will be broken soon and knowing that this stock sells for .6X Book Value gives me confidence to think the break will be to the upside.
*The third chart is a 4 Hour Chart of Anooraq Resources Corp (ANO) and my accumulation of additional shares at $0.85. I've been watching the price of platinum lately and it seems to be in bull mode along with gold, running from $1485 to $1540 today. ANO is a platinum miner and while it did not catch fire with the underlying metal today, I have no doubt that it will, and possibly with a vengeance.
*Finally, I never thought I would do this, but I bought another slug of Direxion 3X Small Cap Bull Shares (TNA). This 2 Hour Chart locates my decision point at $32.70 to BUY. We had both TSI and MFI trendline breakouts, two positive divergences in place between the True Strength Index (TSI) indicator and price movement, and nearly a positive ZERO crossover. Kinda difficult to lose with this kind of setup, in my book.*The stock market daily cycle is in the range of 40 trading days. Today was Day 38 and if not the bottom of the cycle, well, it's just a matter of time now. My expectation is that TNA will, at the minimum, close the open gap at $41.32 during this cycle and probably go much higher than that. *Finally, here is an inspirational bit of information about the seasonality of gold . Of the 12 months of the year, the one with the strongest returns for gold is, by far, September. Second and third place belong to December and January, fourth is May.*If you are going to invested in mining stocks, NOW is the time to load up (in my opinion). I have!*My TSI trading record has been updated.
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