Unique Situation

Did the delay in the bounce invalidate the Unique Situation existing on July 12 2005. In my opinion, the answer is a resounding ” NO. “

Gold : Smartly held on to its about US$415 support against ” odds.” It found support at about US$418, a higher intermediate low, which is Bullish. On a closer look an ” Inverse Head & Shoulder ” formation is in place and its price on a close is higher than the neckline which is Bullish.

The existing Unique Situation is certainly looking prettier with each passing day.

Silver: I neglected to mention that the Unique Situation also exists for Silver in my recent posting. Like Gold it held on to its US$6.80 support. Not unlike Gold it appears to be getting more Bullish as time pass. It has since formed two higher intermediate lows and higher highs. In recent past Silver made impressive runs after making similar formations around the 200 day M.A. In my opinion it appears to be primed to do the same and is now trading above its 200 day M.A. before Gold.

Is Gold & Silver headed for new intermediate highs? It sure looks determined to try. The ” Cat ” appears to be alive and well. Oops … only time will tell. If it succeeds it will be a long while before before we see a similar Unique Situation.

Expect volatility & corrections on the way to its goal as it won’t be a smooth ride up. Enjoy the ride … making money is only part of the fun. I believe that these are early days for this ” Young Bull. “

TRULY A UNIQUE SITUATION !!!

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