Replies to post #1674 on Chelsea Oil and Gas Ltd. (fka COGLF)

[Belek]

BTW, here is what my techy guru said about GOLD in last nights newsletter

Gold finished a large Declining Bullish Wedge pattern from early 2013. Big picture, the Declining Wedge patterns are termination bottom patterns, and it means Gold is headed much higher during the last months of 2015, headed toward a minimum of 1,425ish, possibly by year end. It means that Gold could see a 30 percent rise form current levels over the coming months. This means large degree wave (3) up is starting. A pair of subwaves 1-up and 2-down has transpired since (3) up started a few months ago. It is likely that wave 3-up is underway.

While inflation is not a likely causal factor initially for Gold's coming rally, we believe that short-covering from Hedge Fund Speculators who are betting on more downside in the yellow metal will be the initial spark, and a secondary fuel for this rally will be a black swan event that drives buyers to Gold as a safe haven, perhaps the same black swan event that will ignite a precipitous stock market decline. Gold has risen sharply during past stock market crashes, so a crash this year could fuel a huge move up in Gold. Then once the stock market plunges, we see central bankers printing money, hyperinflating the economy again, which will fuel Gold as a monetary inflation (devaluation) hedge. So three coming driving forces will push Gold and Mining stocks higher, starting real soon: 1)Short-covering, then 2) a Black Swan event (possibly war), then 3) fiat monetary devaluation (QE 4). Throughout history, wars almost inevitably follow economic calamity.