muses of the moment

May 12, 2011

Latest letter from Martin Armstrong dated May 10, 2011

Click here for Martin Armstrong’s latest letter dated May 10, 2011, entitled So You Thought the Sovereign Debt Crisis Was Over?, (9 pages).

A good read. Mr. Armstrong pretty must sums it up on page 7, “The cliff is in sight and we have no brakes.”

The global sovereign debt crisis that governments will try to print their way out of is a fight between public vs. private long-term wave. The shift from public assets to private assets. This shift is clearing being played out in the Greek riots. This sovereign debt crisis is the greatest threat to real wealth.

Last page has a long-term gold chart that starts in 1970.

Long term: support level is $1227.90 in 2011

$1239.30 in 2012

technical resistance  is $2000.90 in 2011

$2037.20 in 2012

technical support is $1374.10 in 2011

$1410.50 in 2012

Groovygirl says: this falls right in line with Alf Field’s current trading range of the 3rd wave up in this long-term bull market: $700-$3500. Judging from Mr. Armstrong’s long-term resistance and support numbers, we will not leave this 3rd wave in the next 2 years.

Mr. Armstrong does mention that with the sovereign debt crisis, anything is possible and technical trading channels could change.

Metal experts on kingworldnews

Filed under: Gold and Silver Investing, Precious metals — totallygroovygirlfriday @ 1:47 am

All of the experts this week are saying that silver has fallen to its low and the price will consolidate and rise moving forward. Click here.

Since we are still in the trading channel set up in Feb, they could very well be right. GG is being cautious, but she did buy a small amount of physical silver at $35 (the bottom of the current channel).

Ben Dines is buying physical silver again. He called the sell off.

Let’s see how we end the week in all commodities.

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