THE TODD MARKET TIMER
26861 Trabuco Rd., Ste. E 182, Mission Viejo, California
(November 10, 1997) METALS: GOLD–Gold is a textbook example of a bear market. The latest ranking by Timer Digest lists TMT as the number one gold timer out of over 100 services monitored. We would like to take this opportunity to show how simple it can be.
Note the pattern of declining tops and bottoms. This is a simple analysis technique and one of the most effective. As long as this pattern keeps up, our task is fairly simple.
Note, also, the up surges that don't go anywhere. Again, this is typical bear market action, just the opposite of the stock market which sees periodic smashes designed to shake investors out. The gold market's occasional sharp rallies are designed to be cruel to the metal's long suffering bulls. Fundamentally, gold needs an inflation threat to prosper and it hasn't had this in ages.
Stephen Todd
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