I'm mumbling to myself. "What kind of a nut would rather do this stuff than watch the Cowboys and the Seahawks in the playoffs?" I kind of answered my own question by posting these charts. Actually, I'm listening to the game while I do the charts.

The first three charts are WEEKLY charts of gold. I've eliminated everything but the long term Delta turning points. I have drawn the trend line as accurately as I can. In order to line them up properly you will have to print the charts, line them up and then tape them together. This sounds like a very young person's task. However, if you are as old as I am you are in your second childhood anyway. I performed this task today. I then hung it over my desk. It is the most beautiful picture I have seen in a very long time. I stare at it often. It is most relaxing and reassuring. The last rising trend line involves chart # 2 and # 3. That trend line touches in 4 places including the most recent $563.50 bottom. Next week the trend line is at $596. I see no valid reason why a rising trend line that is touched in 4 places over a period of 18 months and has not been violated should all of a sudden be broken by a collapsing gold price. The long term Delta turning points tell us we are headed for an LTD # 1 HIGH not due until October of 2007. The biggest moves tend to occur on either side of # 1.

The trend line on the MONTHLY chart looks mighty solid to me. It is clearly touched in three places and survived intact each time.

The trend line on the QUARTERLY chart looks just as strong as all the others. The quarterly chart shows that the last powerful rise has been corrected a little over 50 %. That's right on the mark for a Fibonacci correction. They all look powerfully reassuring to me.

I may be giving away a little known trade "secret." The secret is that sometimes you've got to dump all the fancy stuff and just draw a few lines. However, having Delta long term turning points does help a great deal.

This chart is one of the reasons I believe we have just witnessed a small 5 wave move up and a three wave correction that bottomed on Friday. There may be a little more to go on the down side but not much. Next week the trend line comes in at $596.

For subscription information to the Ron Rosen Precious Metals Timing Letter including "The Master Plan for our Bull market Campaign in the HUI Index and the Delta turning points for gold and silver please click on the address posted below.

Disclaimer: The contents of this letter represent the opinions of Ronald L. Rosen. Nothing contained herein is intended as investment advice or recommendations for specific investment decisions, and you should not rely on it as such. Ronald L. Rosen is not a registered investment advisor Information and analysis above are derived from sources and using methods believed to be reliable, but Ronald L. Rosen cannot accept responsibility for any trading losses you may incur as a result of your reliance on this analysis and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities. Do your own due diligence regarding personal investment decisions.