Tuesday, May 08, 2007

A Rally is Building, but Gold Must Close Above 692 & Silver Over 1406

SILVER and GOLD closed down slightly, but higher than the previous lows, so the trend is still in force. Silver remains above the 50 day moving average. Metals remain in good shape. I still think a rally is building, but gold must close above 692 & silver over 1406.

Stocks dropped a bit today, but they have more upside to come. We are still watching, waiting for the market to speak.

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.