Manic Melon

Am I *finally* right?

I started watching gold and silver in January 2008. I watched it make new highs of $1033 and $21, respectively. Then, I watched gold and silver start a correction that has lasted more than a month. Watching gold go from $1033 to $876 has not been fun.

My opinion has been that this is a temporary correction in order to gain steam to all new highs. So my question is, do we finally have liftoff?

My early prediction

After watching gold and silver for a few months, I’ve gone from approximately zero knowledge to questioning whether I’ve learned a single thing. However, after much research it seems to me that gold is ready for a big move. I happen to think that this move is UP.

To further clarify…

I think that gold is going to make a big move, starting Thursday April 24th. I will admit I’m not 100% sure that north will be the direction.

My Estimates
Gold staying about where it is: 5%
Gold headed down, down down: 10%
Gold headed to the ~$970 range: 10%
Gold headed to new all time highs: 75%

Today’s Metal Prices

As I write this post, gold just slipped down below $899. I suppose it did this to question my confidence. However, I’m holding to my opinion that gold will be bouncing up. See whether I’m right or wrong by looking at the kitco ticker below.

How am I looking?