Wednesday, May 09, 2007

Silver and Gold Prices Fell Today, Still Holding on to Lows at 1315 and 675

SILVER & GOLD PRICES fell today, still holding on to lows at 1315 and 675. This is a nail biter, but you have to stick with a bull market. My friend the Supertech-nician BL called me today and said to watch the high of a few days ago (692 of 20 April & 1403.3 of 23 April), because both will either fail here, or turn and break through that resistance for a spectacular rally.

Big story today is the US Dollar Index, which barely crept over 82, & closed just below that mark. It is also significant for market morale. Tomorrow the dollar might cross it, but soon, no doubt. A close above 82.35 will send the shorts scurrying for cover.

STOCKS told us nothing new today, with slightly higher closes. This rally has been a massive bull trap, & those who fell into it will regret it. Swap stocks for silver & gold. (I'm completely unrepentant.)

The DOW IN GOLD DOLLARS scooted up to G$406.17 (19.65 oz), right at the downtrend line. If it doesn't turn back here, it signals a time of stocks outperforming 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"

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.