This is what a breakout looks like on the Daily Chart. Where do we go from here? Generally speaking we go up a few more days to draw in those who have been waiting patiently for a correction and are now ready to throw in the towel and buy at any price. Then we correct. But so what? Don't try to time a gold bull. This is not - I REPEAT NOT - a speculative blowout. This is normal, measured bull market action.
When it does correct every talking head in the world will nod sagely and bloviate about speculation and bubbles and blah blah blah - throwing in the requisite number of "if you wills", and "If I mays". Don't listen. If they knew anything at all about the markets they'd be trading - not advising others on how to trade.
The Gold bull has years to run. When we finally do correct, it will probably go longer with many false starts and sharp down days to frustrate the bulls and make them lose their core positions. Then, one day, when it makes no sense at all, for no discernible reason gold will go up fifty bucks and everyone who's out or timing will miss it.
Leave the timing to the pros. A few can do it. But rest assured, George Soros is not timing this bull. He's accumulating until he senses it's really over, then he'll dump his entire position. But believe me, we're not anywhere near there yet.
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