The silver price (still the stronger of the two) climbed all the way to the top of resistance at 1226, but now needs to close above 1250 to confirm that this leg down has ended. Likewise the gold price must clear 618 - 622. Look for tomorrow to test last week's lows in silver & gold. May break, may not, but if it does it should be the last of low prices and beginning of next rally.
Another possibility is several days of meandering back & forth in this area, but silver doesn't usually dally about corrections. This one neareth its end.
STOCKS, stocks, what can I say about stocks? Don't buy 'em. Sell 'em if you got 'em. Swap 'em for silver & gold. Today's little bounce didn't prove anything, but did get stocks up over 12,400. Technical problems are developing with weakness in the Nasdaq 100 versus the Dow and ambiguity with the Dow Transports. Think of the stalemate on the French front in World War I -- no man's land, nobody could win, only shoot up lots of ammo & take casualties. That's where the stock market is today. Remember that when the bands start playing & the soldiers marching, tempting you to join.
The US DOLLAR INDEX has stopped dead in its tracks. Appears that the sceptics all got together to sell today. If the dollar doesn't follow through with higher prices tomorrow, rally has been just another false start.
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.
