Quote myself:

There's just one huge, major, giant problem with believing this triangle will result in a breakout up - MANIPULATION always negates free market trading patterns.

In the case of gold, the manipulation is to force it down.

Here's my prediction on the two possible breakout directions:

1. Gold breaks out to the upside - then over a period of days, gold comes back down to test the downtrend breakout line, then goes back up. However, since the system hasn't collapsed yet, gold will not be allowed to break through $1000. The result will be a continuing sideways pattern until the system collapses.

Unquote

We got our breakout to the upside which I'm thankful for. We even got an intraday punch through $1000 two days in a row, but no close above $1000. But I was wrong about breaking through $1000. I still hope I'm wrong about the rest.

Technical Analyst is great stuff, but manipulators know all about it, too. Unfortunately they have unlimited money to be able to paint the charts. Sure, they can't really beat the trend, but they sure can make life miserable for those of us that are riding this uptrend.

I'm sure the cartel did not want gold breaking through $1000, but it did anyway. Yet, they can still paint the charts to get all the techies to believe this is just another $1000 top.

Also, we still haven't had "buyers remorse" of this breakout yet. We haven't come back down to test the breakout yet.

I pray and hope this breakout doesn't just turn into a continuation of a sideways chop below $1000 like we've had for months and months, but the manipulators will not give up until they have totally failed, and that won't be until the financial system has totally collapsed around us all. I don't want a collapse. I'm not really looking forward to such an event or change in life style, but it looks inevitable.

Meanwhile, it continues to be as tough-as-nails to make any money investing in gold & silver and stocks while the corrupt system we have continues on.

To the average US citizen, they probably don't see gold as a safe haven when it can't go up even as the Dollar is withering away to worthlessness. Heck, the condition they're in now, they probably can't afford to buy gold even if they wanted to.

This whole mess is enough to make a person want to spit. Maybe the Chinese will get tired of spitting and be the ones to crush the Cartel, but they really still need more time to spend all their currency reserves on commodities before a system collapse.

Meanwhile, ECU is once again falling back down after not really enjoying this gold breakout we had. Can't let Bill Murphy's proxy be a good investment.

Terry