Edgy

Thanks for posting the recent work of Przemyslaw Radomski. Przemyslaw has done some excellent analysis. Who knows what the charts would have looked like if the unbridled manipulators and controllers hadn't ascended on our market along with all others like locust.

For years technical analysis was a worthy and bona fide science. Now these days the market criminals destribute at important technical areas and break the back of charts at important levels hoping to freighten scared investors to gather in their shorts with most of it is allowed to take place using paper instruments of questionable merit.

I follow the XAU Index which today happens to be at 115.55, off 2.24. When the Index was in position to flip above an important level in the 138 to 142 area is when all the selling in gold started to take place with the pm shares joining in. The selling in gold is always considered using many factors and the condition of gold stock index charts is one of them. If an important resistance level, the 1000 day moving average line, had given way to buyers this event would have focused positive attention on the yellow metal. As gold was pushed back from $1000 the 200 moving average line on the XAU Index was later cracked at about 127 with the miscreants using that area to sell at for a week or so until prices became exhausted and fell to about 115, breaking a 100 day advancing average. Now the manipulators are leaning on the Index in the 119 to 120 area attempting to sterilize more bullishness as they continue their bearish controlling tactics. If the Index is forced to retreat back to its fort of security in the 100 area, so be it. My attitude concerning this unlawful maneuver with naked short selling is that any retesting of the important moving averages lines of the 2500 and the 5000 is that it will only build up more energy for a significant upward explosion to take place when the time is right. Remember, you can only retain so much steam in a boiling closed topped kettle before it blows its lid.

Even though it appears that the Index is weak and frail with the COMEX gold show continuing, make no mistake about this one: The XAU Index is in a major bull market. Buying gold and silver stocks while retaining them on any weakness during a bull market is a proven winner.