Loading ...LARRY ADMITS TO MISSING THE MOVE—SO HE CRAFTS A CLASSIC COMPENSATORY SCENARIO—
Q: We missed the big move from $1,046.60 all the way up to $1,263.90 (nearest futures). What now?
A: Yes, we missed that move. BUT, as noted above, you will soon get a second chance to get in at much lower levels. Possibly even at new lows.
That will provide you with a far lower risk entry level than you have now. Ditto for silver, other precious metals, and especially miners, who have gotten way ahead of themselves and can crash yet again.
Flash Alert: Precious Metals. What To Do Now!
by Larry Edelson on February 23, 2016 at 11:47 am EST
In my flash alert of February 9, I told you that if gold closed above $1,187.50 at the end of a week – then that would be deemed a weekly buy signal on my system and that we should then see a further rally – not just in gold, but in other precious metals and mining companies as well.
And indeed, on Thursday, February 11, gold did close above that weekly buy signal, by rallying explosively to as high as $1,263.90 (nearest futures), closing the day at $1,247.80 – well above the weekly buy signal.
Since then, gold, silver and miners have largely drifted back lower – testing support levels. How they test and interact with their respective support levels will be very important.
But there has also been an important change in the neural net models. A change I must make you aware of – via this flash alert …
Or you will end up suffering tremendous losses in gold, silver or miners – if you happened to ignore my advice and jumped on the bandwagon recently, based on emotions rather than sound analysis and advice.
I’ll tell you about the change, but via your main questions that have been pouring in to my inbox.