Buy DUST @ $35.19
{ Posted on Jan 10 2012 by John Townsend }
I decided to buy Direxion's Gold Miner Bear 3X ETF at $35.19. I am playing this on the hunch that this second 4 hour cycle is going to be left translated (already topped at $1641.4) and thus the entire daily cycle will be left translated, as well. This is consistent with my concern that gold may not have concluded its D-wave correction. However, as we are on the fourth daily cycle (if December 29th was not the weekly (intermediate) cycle low), gold is running out of time to fall from the sky - as best I can tell, anyway.
If gold is now able to best the last daily cycle high of $1643.7 it has an excellent chance of making a run to the downward line of resistance drawn from the September 2011 All-Time high through the mid-November and early December highs. That location comes it at around $1695.
My TSI Trading Record has been updated.
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