Clearly, a silver close below 1213 and gold close below 604.90 would signal a steep downturn, although I don't at all expect that.
Behold! Today another oddity. Several weeks ago the Dow made an intraday high at 12,580. However, although it has made three new highs in the last 3 sessions, only today did it exceed that old intraday high with today's high at 12,585.08. May be nothing, but to eke out new highs by a few points each day without making new intraday highs seems, well, weak to me. But then, I'm no fan of stocks because they're in a primary bear market. They continue to grind barely higher but mostly sideways, drawing more and more bulls into the bear's den for later mauling.
Buttressing my bearish outlook is the DOW IN GOLD DOLLARS. After trying its itty best to make a new high, it couldn't exceed G$425 (20.56 oz), much less G$436 (21.09 oz) and today fell back to G$416.57 (20.15 oz). The DOW IN SILVER OUNCES is close to falling sharply, perhaps in a week or so. Lesson is clear: swap stocks for silver & gold.
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.
