Ship comes in

True or false?

First let me apologise for rather truncated service. Life has been hectic for the past few weeks and I guess it will continue this way as Christmas approaches. If any of you, other than me, rely on this commentary let me know, by way of comment, and I will endeavour to  write more regularly.

As of yesterday it began to look as though my analysis of the market may be right after all. The next few days will tell. The downward break out of the 11500 to 12200 channel may prove to have been a false break out. The previous  10800 to 11500 channel also had false break outs. But we cannot be complacent. A second downturn without a convincing re-entry into the main channel would be a very bad sign.

In the mean time I was well prepared for a recovery - even though I was a bit premature. I had bought equities in the US UK and HK and as of this morning they represented 43% of my portfolio and I reaped a hefty return. I am ready to ditch them if the worst comes to the worst and the market begins to look ugly. But for now any signs of a continuing up wave would encourage me to buy more.

Quietly hopeful,that gold will recover

Gold presents a far more orderly picture. A frightening move to the bottom of the broad channel and now a period of sitting on the bottom. Let's hope the recovery comes soon. The silver chart is altogether more ambiguous. I just have to wait and see.