The other day reader Mike M asked in our comments section:
Hi Lee -What do you think of this Powell fellow as Fed Chair? It appears from an article I read that he is fond of the TBTF bailout.
Mike, you are not the only one to ask me this question. In fact, people right here at Money Map Press have been asking me. No doubt, the entire world wants to know. CNBC talking heads talk about it. The Wall Street Journal and Bloomberg and Reuters have probably written great tomes about it.
Click here to continue.
You may be, in fact probably are, a gold bug if you are reading this. Well, I am not a gold bug, but I have followed gold closely from a technical trading perspective for many years. I respect your faith in it. I would never short it, nor would I short mining stocks, even though the charts may look like good shorts from time to time.
I’d rather play the metal and the miners strictly from the long side, looking for the best times to enter and sometimes, to take profits. It’s not always easy. Gold’s trends are sometimes inscrutable. Those who manipulate the price of the metal do not have market based motivation for doing so. It’s always tricky.
That said, I’m here to give you an unbiased technical perspective on where the metal may be headed both over the intermediate term and longer term. This perspective is based on my 47 years of studying cyclical analysis.
And, if I’m not mistaken, there could be a gold upturn in the near future…