Graph of Gold and Silver ('92 til present)

Gold and silver have been gone exponential.  I believe this bull market will reach mania next year and this is the beginning of what's to come.  Got precious metals?

Silver (USD)

Gold (USD)

Gold and silver prices

I took a screenshot of Gold and silver priced in Australian dollars.

I believe this will be one of the last few times we will see Gold at the 1400+ dollars and Silver at 20+ dollars.  Within the next few months I believe Gold in Australian dollars will be at 1700+ and Silver at 30+ dollars.  Got Precious Metals?

Gold.ax breakout

Gold.ax has finally broken out of its trading range!

If Gold.ax can hold above the 135 level, prepare for some fireworks.  The target is 165 based on a consolidation count of 4.  It's exciting times for holders of Gold and Silver!

Gold.ax update

Gold.ax is bottoming!  Gold.ax is currently trading at 131, this will be a triple bottom.  I expect this to hold and a breakout out of the trading range.

Yesterday's Fed meeting had GLD at one point as low as 129 and SLV as low as 23.48 but both metals have since recovered.  Will GLD and SLV accelerate to new highs?  The trendlines and MACD have not been broken so I suspect the answer is yes.

Gold.ax, GLD and SLV update

Well well, I spoke too soon.  It looks like MACD is turning upwards again for both precious metals.  So, what will the Fed say about QE2?  The Fed will speak in a few hours and we'll see what happens then, but from the graph it looks like the market will like what it hears and propel GLD and SLV to new highs.  SLV is on a roll gaining 74 cents last Friday, that's a pretty strong move!

The Australian dollar rose to parity against the US dollar today on the basis of the interest rate hikes by the central bank.  This brought Gold.ax down to 132.45, a 1.32% fall.  Gold.ax is still trading in a range but I suspect will breakout when GLD breaks above 1400 which should occur within the next few months.  The strongest season for the precious metals is Nov, Dec and Jan, and this trend should maintain.

Gold.ax, Gld and Slv

Gold (Gold.ax) is currently trading at 131.85.  The ascending triangle pattern that was forming has been broken.  Gold is now currently trading in a range between 130.60 and 135.90.  There has to be a catalyst for Gold to breakout to the upside.  Now is the perfect time to buy!  It's a real shame that Gold did not breakout to the update as it would've moved swiftly to my initial target of 145.00.  I'm sure Gold will get there, patience is the key.  On that basis, Gld (a proxy for Gold in US dollars) is currently topping out with MACD falling and has formed a small head and shoulders pattern, I expect Gld to hit 125 to 126 after which that would be a great entry point.  SLV (a proxy for Silver) also has a head and shoulders pattern with MACD falling and I expect SLV to be taken down to 20 before approaching its resuming its uptrend. The correction is here!

Gold update

Gold (Gold.ax) is currently 135.05, and has added 40 dollars since I last posted in September.  I still expect Gold to breakout anytime soon.  The breakout will be confirmed at 136.00 after which I expect Gold to move quickly to 145.00 based on the ascending triangle formed between 5th August till present 19th October and then to 1720 AUD.

Gold symmetric triangle

Gold will be breaking out soon in terms of the Australian dollar.  A symmetric triangle has formed in the time period from April till September.  The target for Gold in terms of the Australian dollar will be 1720 AUD per ounce.  Here is the graph representing Gold (Gold.ax) on the ASX.

I expect this target to be reached by the end of this year.

This will represent a new high for Gold in terms of the Australian dollar.  The previous high was 1490 back in February 2009 when the Australian dollar got decimated against almost all currencies.

The Australian dollar is incredibly strong at the moment but will still be weak compared to Gold.

Gold is rated a buy in my opinion.

Sell the AUD

The AUD has made a bearish crossover to the USD.  It has been rallying the past few weeks.

Funnily enough you might think the above is the stock market but no it's the Australian dollar.  I expect the Australian dollar to fall within the coming months and have shifted to nothing but precious metals, Singapore dollars and shorting the real estate market (SRS).

Sell your stocks if you hold any, the time is now.

2009 End of Year Review

It's now Jan 1st 2010. What a year it's been. Crazy bear market rallies, a fake recovery, and suddenly everything seems hunky dory again. Financially it's been a surprisingly good year for me, then again I expected Armageddon or something along the lines of that, so comparing anything to that's a positive.

Positives
- Sales weren't as down as I thought they would be
- I didn't lose my shorts in trading
- My savings rate is still unbeatable
- We didn't get sacked
- The AUD recovered
- US didn't go into collapse
- Financials wise, I'm still way above the crowd

Negatives
- Economy fundamentals are worse than ever
- US will collapse, only a matter of time
- People are still pretending nothing happened
- Sackings are on the way this year

What's in store for 2010...

More applications
I'll start writing applications for the iphone (really). I'm getting an intel mac this month, so I must! I'm also writing another application for Windows to complement the present product line.
I need to start writing a specialised targeted blog... must work on my inbound marketing.

Investing
What do I expect this year? Armageddon as well, but I'm always prepared for anything. I expect Gold to hit 1500 USD this year. Gold shot up to 1300+ AUD before retreating to its present levels. I still expect a higher price for Gold in Feb. I also expect Gold to hit the 900+ USD odd levels sometime this year, before shooting way higher. This is going to be the year for Gold. Stocks? For trading only. With insane stimulus, can stocks go up? Of course. But based on present valuations, stocks are just way overpriced. This isn't any bear market bottom.

Of course I could be totally wrong. Gold didn't hit 2k as I thought it would, but it's set a strong base at the 1k level. The Dow didn't fall as much as I thought it would. But we shall see.

That's all I have to add for now.. I'll add more.. later if I have anything to add. Getting sleepy....

2010 here we come...