tradermama,
Sorry but I honestly can't comment on Raymond Merriman's accuracy regarding cycles. I've been a subscriber of his weekly gold & silver reports for about 8 months but there haven't been that many major cycles in that time period and there have been even fewer primary cycle lows - only two so far, I think.
In addition, when I first became a subscriber of his weekly gold & silver reports I was more interested in his critical reversal dates based on astrology because I found those worked well. The cycles analysis of the reports confused me and it took me a while before I really understood it well. I will say that between Merriman's monthly MMA Cycles Report and his weekly gold & silver reports I have been more successful at making money in the markets than before.
Right now I'm sweating bullets because spot gold in New York is currently trading around $1,254.40/$1,255.40 which hits Merriman's stop-loss of $1,255. Now Merriman was very specific and stated that gold would need to close above $1,255 but it's looking like it just might do that today. However, it seems silly to sell out of my short position now when on the daily charts gold mining stocks are getting overbought and could sell-off any day now. Another problem is that Merriman stated in the past that during Mercury retrograde prices can move well past support and resistance areas and then suddenly reverse. That could be the situation here with gold.
Yea, I see that too regarding gold. I have watched gld very closely for the past 6 weeks...and slv..really wild action intraday...and even today..we were up..then you can see profit taking of $10..but I swear, you can't time it right now or do it at your own risk.. What I do if I want to swing trade it and see a bullish development happening after a while of consolidation like we have (cycles not being used here) I initialize the position and wait for the break out or if we correct to first support levels to add...but for me, I feel gold will go up into Venus Retro in Oct..and like even Merriman said, get long after Set 24 for October when Mars goes into Scorpio..you might have to wait a couple of weeks if it corrects..but I've seen this happen where it does work with astrology and besides we are entering a bullish time too for gold...unlike the summer..I have physical gold that I will hold for a long time but I do trade gld and slv
Good luck and thanks for posting too
TM
P.S. with gld a print of 124 will give a new buy signal and it's not that far away..especially if we get over 1255