Ed. note: Here is another installment from longtime reader Myron Martin. Myron has agreed to our trading restrictions (he won’t trade the stocks he mentions for three days), but we have not reviewed, approved or screened his stocks or ideas, and the opinions he expresses are solely his own. Myron’s past commentaries can be seen here.
I started writing this on August 16th after a volatile week in the precious metal markets that has seen the price of gold finally break through the $1350 resistance level quite decisively. The question many analysts will be asking is whether the market will hold above this price having reached intraday prices over $1370, and of course that question will be answered before this gets published. Either way, whether it gets knocked back down and needs to make another attempt at a serious breakout back to former highs in the $1400 to $1550 range by month’s end, now is a good time to educate yourself on monetary history. I know of no better way to do that than to invest a half hour in the Mike Maloney informative video called “Hidden Secrets of Money 2“. This is the second installment, which was just released and which I hope will entice you to watch the first video in the series as well.
Regardless of which way the market answers, the fact is that the fall season after Labor Day usually sees a rising trend into year end