March 6, 2016
On Friday, a few minutes before the Close we purchased more NUGT @ 60.0899. So, as you can see from the 3rd Paragraph below, we can still buy some NUGT and make money in this current run-up in Gold.
Since January 15, we have been buying, taking profits and then rebuying a lot of gold related instruments. We have been able to realize great profits because, Socrates alerted us, well in advance, of all of the upcoming trends including that the week of March 5, 2016 would be epic in Gold and the Metals.
For Monday the Socrates NY Gold Nearest Futures forecasts are:
For the Day Important Reaction High; for the Week Still Moving Higher; for the Month Moving Higher; for the Quarter Pressing Higher and for the Year Turning UP.
But, - - - beware:
A retest of key resistance and a final bull trap is still in the cards and moving forward we have to be cognisant of that. To know in advance the Timing of that bull trap will be very important to us.
Martin Armstrong [my emphasis and comment]:
“One of the reasons caution in Gold is required has been the fact that Silver is not responding in kind. We have not elected any Monthly Bullish Reversal and at year-end Silver was not neutral, as was the case with Gold. We can still see the silver/gold ratio blow out to retest the major highs in the 100-120:1 level before we see any real long-term change in trend.
Therefore, we should not just assume a breakout is underway. A retest of key resistance and a final bull trap may be the outcome here. We are still only within the typical reaction period of 3 months. We would need to make new highs beyond March to raise hope of a change in trend for now [I believe here Marty means the long-term trend]. Be very careful on the silver/gold ratio.”
In conclusion: Although Socrates is very, very bullish in the immediate-term, before the long-term trend continues we still expect a final bull trap and with the Alerts from Martin Armstrong and Socrates we will have advance notice of the Timing thereof so that we again can take advantage of that bull trap and pick the right downside trade.
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March 6, 2016