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Monday, July 23, 2007

Silver & Gold Correction could last 2-3 days. Great Buying Opportunity

'Twould be a bad idea to conclude the rally in the Silver & Gold price was founded only upon the US Dollar's drop. Ponder, say, gold in Euros, which bottomed earlier in July at 474.80 euros & hath climbed since above its 50 & 200 DMAs to scare 500 euros to death, while the dollar wallows in despair against the euro. Against the yen gold either has broken out or is about to. Silver's performance against these two currencies isn't quite as unquestionable yet, but silver's moving up against both. So the rally in silver & gold is not merely a reaction to the sliding dollar alone, but a climb across the board.

SILVER & GOLD dropped back today, as I expected on Friday. No harm done, as long as silver remains above 1300 and gold above 670. Correction could last two to three days, & offers y'all a great opportunity to buy.

Stocks bounced up today, all the indices, but we were not impressed. May get one more push higher, but there's not much more upside in stocks. Swap stocks for silver & gold -- I think both metalshave at last turned up against stocks, although they need to climb just a leetle more to confirm that.

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.