Today stocks, reacting to the voices of those tea-leaf-readers who interpret the sybillic pronunciations of the Federal Reserve Open Market Committee (FOMC, rhymes with vomic), jumped up to within points of their all time high (basis the Dow). Do the words "double top" ring a bell with any of y'all? My target for the Dow's top is 12,650, and we might see that tomorrow, then the grinding loss of blood while stocks roll over, slowly, clumsily, to the downside.
Dow in Gold Dollars fell today to a new low for the move. Does that sound like stocks are about to outperform gold? Not hardly. Now, more than ever, I urge y'all to swap stocks for silver & gold.
Crowds of shorts are waiting to pounce on silver & gold here, but these new closes will attract many new longs. Seesaw will wind up on the metals' side.
Gold/Silver ratio fell today, a good sign but small.
Sorry, I'm traveling tomorrow and Friday, so won't posting daily commentary. I'll be near Baltimore speaking for the Institute on the Constitution.
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.