Out of the last four trading days, the Dow has hit a new all time high, but also dropped 3 out of 4 days. All stocks indices were down today. The S&P 500 which only a few days ago made a new high at 1525.10 (barely approaching its 2000 high at 1552), today languisheth again near 1,500. Stocks are incredibly overbought, but in a blow-off top which can go anywhere. Stay out of the way. Swap stocks for silver & gold.
The US DOLLAR INDEX closed today at 82.411. Slowly but surely it has conquered the old low at 82.35. Dollar's course is now upward for a time -- but only for a time. Its long term course is lower toward oblivion.
SILVER & GOLD today broke ---- gold to a new low for the move, silver only to its lowest point of the move so far. Gold faces a lot of support between here & 635, but that's where it seems headed. I doubt Silver will drop lower than 1245. You are now witnessing the worst of this correction, and it will likely last a week or two.
A curse? No, a blessing. The correction shakes silver & gold out of weak hands and into strong, paving the way for another rally. Rest easy. The long term bull market in silver & gold remains fully intact, and has at least another 3 -5 years to run. This is the time to buy silver & gold, not to sell.
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.
