Tuesday, August 9, 2016

We Expect Gold To Break Out: Buy

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*Don't know if you know, but we like gold.
*We expect a big breakout.
*We are at a very important level.

We think there is a big positive breakout coming for gold. We think the Fed is on hold which allows inflation worries to build. We think all-world is moving closer to third-world numbers as EVERYBODY is calling for a global slowdown. We think Gold wins for many reasons.
First, we want to look at a gold chart to see the upcoming breakout potential. Gold is coming up to a major resistance but we expect it to slice through on the upside.
Here you see a GLD ETF chart dating back seven years. You see that the price we've reached has acted as a key cross over point to decide future direction.
On the GLD ETF the price is 131.
Global Slowdown Everywhere
We think as the global economic slowdown gets worse citizens and countries will build up gold as a safe-haven.
We just heard from a Fed Board member Jerome Powell that there is downside risk to global growth.
We heard the UK drop their growth target by 150bp for 2017 based on Brexit.
We heard the head of the ECB say, "There is downside risk to the .5% 3 year Brexit impact."

Chaim Siegel has been working with hedge funds and mutual funds as an analyst and PM his entire career. Chaim specializes in earnings and predicts, analyzes and reacts to earnings and earnings events as well as developing current company stories with a hedge fund perspective. If you want his analysis real time sign up to the right for real time email alerts. #in, $spy, $qqq, $iwm, $vxx, $ycs, $fxe, $EUO, $YCS, ^GSPC, INDEXSP:.INX, #elazaradvisorsllc, CME Globex: ES Disclosure: These trades can lose you money and principal especially when using leverage BY USING THIS SITE YOU AGREE TO TAKE ALL RESPONSIBILITY FOR YOUR OUTCOMES AND LOSSES AND HOLD BESTIDEAS, ITS CONTRIBUTORS AND ELAZAR ADVISORS, LLC HARMLESS

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