Whooo-eee! The SILVER PRICE looks ready to take on the moon. Tomorrow silver must close above 1220 to maintain this momentum. Then it lands in heavy slogging resistance from 1220 to 1275. Above 1275 nothing much stands in the way of silver's view of the sky. If the Gold/Silver ratio falls through 49:1, it will fall a long, long ways further. Great news if you own silver.
The US DOLLAR INDEX fell for their third day straight. It may have ended today, but if not, watch out. Today it hit the 50 Day Moving Average. It should turn around at 85.50, but absolutely must hold 85 or break down and fall to 84.40 or lower. Some of those Nice Government Men better get up of their big, soft, $2,000 office chairs and start manipulating something. What's this world coming to? They just don't make bureaucrats like they used to.
If I owned stocks (surprise! I don't) the last four day's Dow chart would have me sweating & pondering. Looks like distribution to me, toppy. Out of the last 11 days, the Dow has closed up nine. How long? Long enough for y'all to sell stocks and buy silver & gold, I hope. Owch! Yesterday I forgot to return to the subject of the key reversal. Last night's closes, of course, confirmed it and boy! did it prove itself today in gold and silver.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at the Best Prices"
To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $1,250.00; silver's primary is up targeting 16:1 gold/silver ratio or $78.13; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.