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The Iron Pyrite Trade

Gold has lost its shine, and it looks to be dull for a while. The 10-12 month cycle projection of xxxx(subscriber version) has been hit. Another attempt to reach that level may or may not lie ahead over the next two months, but it is unlikely to be topped for many months to come. In the near term, opposed cycles are likely to lead to more xxxx xxxx xxxx.

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A weekly close below xxxx (subscriber version) would invalidate the implications of the breakout.

A long term cycle high is due in xxxx.

Swing Trade Screen Picks -Over the week ended April 4, 42 charts of the 52 mining stocks that I track had at least one buy signal. 20 had at least one sell signal. So there were several whipsaw charts with signals on both sides. This is typical of a consolidation phase.

The signals anticipate swings of 3-5 weeks. But when a market or sector is rangebound, there are lots of whipsaw signals. This is why it’s necessary to look at the charts for the overall pattern.

I rescreened the stocks that had at least one buy signal over the first 4 days of the period, for repeat buy signals on Friday and Monday. There were 29. There were 9 repeat sell signals. Overall that’s bullish for the short term outlook for the group.

However, when I looked at the charts, I was disappointed. While there were plenty of short term buy signals, the intermediate term cycle structures weren’t great. In fact, they were troubling. Try as I might, I only found one chart that liked enough to add to the list. That goes along with the one that wasn’t stopped out last week, to leave us with only two long picks. If the sector takes off, we’ll have a toe in the water, but not a full load. On the other hand, if it tanks, we won’t get hurt.

Table and charts below (subscriber version).

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The strategy and tactics suggestions in this report are for informational and entertainment purposes, and illustrative of one approach. Nothing in this report is meant as personalized investment advice and you should not construe it as such. No representation is made that it is the best approach, will be profitable, or suitable for you.

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