By featuring 'hula numbers' for Comex gold, I've tried to take some of the guesswork out of trading an increasingly volatile bull market. Okay, so it's also a marketing gimmick. But why shouldn't a guru be made to dance a hula in Times Square if he is wrong, wrong, wrong? You say that if even a mere fraction of America's lame stock forecasters were to show up in their grass skirts on the same day, ukuleles in hand, midtown Manhattan would be inundated by a hula tsunami? So what, then, would be a reasonable compromise? And don't tell me a guillotine in Central Park, since that might have a 'chilling effect' on the guru industry. Think about it. For every Abbey Joseph Cohen that deservedly went to the scaffold, delighting the mob, you'd wind up beheading a�Joe Granville. (Click on picture to enlarge) Whatever you decide, I have no qualms about putting my reputation on the line whenever Comex Gold invites a hula number by telegraphing its next move with the intricate precision of a bumblebee doing a hive dance. So where is Comex June Gold head next? My current hula number is 709.50, a target that I first broached when the futures exceeded the last 'sure thing' at 665.50. Like Fred and Ginger I should caution you, though, that merely 'knowing' where gold is headed is no guarantee that trading it will be painless. Take yesterday, for instance. Gold danced with our hidden pivots like Fred with Ginger. But oh, what a day! Here's the forecast and recommendation, exactly as it was disseminated on Wednesday night: + $ June Gold (681.50) 05/03/2006 18:27:08 EST 5863 This correction could come down to as low as 653.20 over the near term, but a lesser pivot at 663.10 has the potential to turn
LATEST TRADES
