Friday’s surge slightly exceeded the 243.52 midpoint resistance of the pattern shown, offering modest encouragement to those of you who may have found reasons for despair in my last tout for this vehicle. Is this the turnaround we’ve been waiting for so patiently? It’s too early to tell, but a two-day close above the resistance would certainly justify optimism such as we have not dared in a long while. That would put the 269.75 ‘D’ target well in play, and with it a rationale for positioning from the long side — not only in this vehicle, but in certain stocks we have tracked in the past, such as Altius, Rye Patch and California Gold Mining, that stand to be high-beta performers if the gold price is headed above 1400.00
