I stress that these are POSSIBILITIES not predictions. If silver lounged around 1280 next week and gold around 645-650 & that was the bottom, I wouldn't be surprised, but I do expect some more downside, and the last of it, next week. Get ready to buy.
I keep on getting questions like, "Is this the end of the bull market?" This is typical of long corrections: people begin to lose heart. But the silver & gold bull market isn't more than six years old, and has at least another six years to run. Bulls always try to shake off everybody possible. This is NOT the end of the silver & gold bull market, and it is NOT the beginning of a new bull market in stocks. Rest assured.
Step back a moment and remember the significance of daily closes and of weekly closes. For all the talk, the huffing & puffing, the highs & lows, the question remains, What's the score at the end of the game?
For the first week in a long time, stocks were down. This week's Dow obviously topped on Wednesday, & has turned down. Y'all will see lower stock prices next week. Stocks are blowing off to the upside, & have much lower prices in their future this year. Have we seen the top? I don't know, but a correction is coming next week, I'm pretty sure. Make sure you are not long stocks, or, if you must be, make sure you have close stops beneath them. But say -- what are you doing owning stocks anyway? Swap stocks for silver & gold.
The US DOLLAR INDEX is the next big story. The buck is fighting like a wildcat, trying to get thrugh 82.35 resistance, but without much success. Should make it through next week & begin rallying in earnest. Dollar should rally 3 - 6 months. Will that kill gold & silver? I don't think so. Over the long term silver & gold move opposite to the dollar, but in the short term they can run in the same direction for months.
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.