We started pounding the table for Gold (GLD) in our Oct 15th free newsletter (An Economic Worst Case Scenario), following through in our paid publications all through November and now into the first weekend of December. In our Weekend Update that went out to our Premium and PRO paid subscribers on Saturday we published the charts below with specific options to take advantage of what pattern recognition analysis suggests is coming next for the price of gold, its ETF (GLD) and select call options. We also reviewed past Decembers in the stock market and in particular what can be expected if December, 2023 is anything like December, 2018.
The Case for Gold
Forget fundamentals, wars, currencies or inflation; these two charts (and a few good option ideas) are all that's needed to take advantage of the next move in gold. You don't have to be an Elliott Wave expert to understand the bullish set-up, just the ability to count from one to five and the observational skills to recognize that the counts shown have only progressed from one to two so far. Accordingly, legs three (UP), four (Sideways to Down) and five (UP) are still to come. In other words, if my interpretation of the past to present is correct, my anticipation into the future is as well, i.e., GLD is headed to 208-232 into the first quarter of 2024. Our options will thrive.
Gold - Weekly
GLD - Daily
DJI December To Remember
Blue Line Trading Black Friday Sale
If you missed our annual black Friday sale don't kick yourself; we didn't have one. Our ongoing promotion to new subscribers is a 50% discount for the first month to either service, Premium ($99) or PRO ($249) simply by using this sign-up code: GOPRO@50%.
Coming soon: Our 2024 Stock of The Year
