The Meaning of “Talents”: My many decades of studying trends and time ‘Talents’ are telling me to take a breather in Gold. Take profits this week and wait until August. What entities ‘do with their time’ is the same as the Bible Story. What a person, or what a market does with the time allotted to it to perform is the “Tell. “I expected Gold to be going up. It has. Note that the 5 month rally into 8/20 was followed by a longer 8 month correction. It was an unimpressive use of time. The recent 13 week rally has struggled to get back to minor interim Resistance and was not as dynamic as other multi week rallies. This “overbalancing of time’ also tells of a poor use of time ‘Talent’ in this market. It could have and, should have done better? What does it mean? Gold is due to be tactically topping this week or next. Be willing to sell some. Thank you.
The Stuff Story: Don’t believe in stories. They are a dime a dozen on anybody’s’ Teleprompter. Sure, structural Inflation is really here and it will produce episodic fuel for bidding on breaks but these assets all live on two way streets.
Gold Daily (GLD): The Chart also shows a defined uptrend but again lacks dynamism. Obvious Resistance looms. Best to keep it simple. You were advised to be long of these assets. You have made the money. Now put some in your pocket. This is the Great Game we are all endeavoring to play or, as we know only too well, sometimes, ‘played.’ Look to take profits this week and wait until August to try to Buy. I will be watching to see how it uses its ‘Talent’ into then.
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