In spite of closing at 616.40 & 1250.7, gold and silver have traded as low as 613 & 1241.5. Now they've turned back up, but it still points lower tomorrow.
This is it, the last correction, the one we've been waiting on. It's just beginning but will likely unroll very fast. You snooze, you lose.
I confess I am a stock bear, but even a blind hog finds an acorn sometimes. My friend RL says that to read a chart, you have to tear off the top, where it's labelled, to make sure you are reading the chart, and not your bias. So if I tear the top off the 5 day Dow chart, what do I see? A very plain double top just under 12,200, which leads to my concluding the next few days the Dow will fall.
Of course, a close through 12,200 would negate that. And now, a word from my bias: Folks, swap stocks for silver & gold. You'll be glad you did. (I bet y'all think I'm writing this every day to be funny, or to sell metals. Well, I'm not. I'm as serious as a cranky jet engine at 30,000 feet.)
Currency markets apparently didn't think anything of the election, one way or the other. The dollar index rose 9 basis points -- meaning- less. The situation remains unclear. A close below 85 takes the dollar down, a close above 87.3 takes it up. In between is lost hopes & found disappointments.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at the Best Prices"
http://The-Moneychanger.com
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.
