Since the Dow in Gold Dollars has once again proven itself the most reliable indicator in the universe, let us focus first thereupon. Today it fell from G$419.73(20.304 oz) to G$415.90 (20.119 oz) -- back to the G$415-- G$417 support/resistance. So far the DiG$ has tracked perfectly what it would track if stocks were about to begin dropping against gold. Today's follow-thru just ices the cake. A close below G$415 closes the case, far's I'm concerned.
The Dow & other indices were hammered today, the Dow falling 129.79 and the S&P falling 13.57. The Dow has closed below its 17 day moving average, the first tripwire for a decline. Blood could make the footing very slippery here. I claim no expertise nor wisdom, but I would swap stocks for silver & gold. Fast.
In the face of the European Central Bank's raising interest rates the US Dollar Index fell off a bit, but very little. The $ has caught just below where it has caught before, but still looks peaked & sickly. Stay away. Shuck dollar paying assets for silver & 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.