Except for the dollar, which keeps falling like your watch into a well, markets have reached a standstill.
The GOLD PRICE doesn't appear weak exactly, but obviously 732 has become the price to beat. We'll either get a short correction here, or it will burst that wall in $10 leaps. (Short correction means $10 - 20.) Oddly enough, a good bit of our physical business last few weeks has been people selling, mostly Y2K buyers who have gotten tired of holding.
To the rest of y'all I say, don't get tired of making a profit. Silver & Gold Prices right now are on the threshold of a move that will make 2001 - 2006 look like chicken feed from Bullfrog Corners.
The SILVER PRICE has stalled like gold, at 1350. It's hard to keep the pressure up at a line this way, so a decision will come here soon. Little correction or breakthrough, it's time to buy both silver and gold.
Stocks hit the wall at 13,850, and since have looked ready to nose dive. Today's little turnaround with the Dow up 19.59 (whooo -- big deal, that!) & the S&P500 down .52 looks like a confused market, and confused markets don't usually rise. Anyway, y'all don't care, right? Y'all are all light-hearted & gay because y'all have already sold your stocks & bought gold & silver with the proceeds, right? You don't have to worry about landing unawares in the next financial hurricane the Fed launches, huh?
THE US DOLLAR INDEX fell another 20+ basis points today to lodge at 78.319, a bare 12 points off the 1991 low. Look for it to hit 78.19 tomorrow, then, say, drop another 20 basis points, and then blast up in a rally that picks all the shorts' pockets and wallets. Watch it like you'd watch a canebrake rattler.
This came from Elliott Wave International by way of Al Thomas' Mutual Fund Magic today; "Where do you think home prices will be in 2011? Last week the Chicago Mercantile Exchange pushed the futures contracts on the S&P Case-Schiller Home Prices Indexes out to five years. Traders think Miami home prices will be down by 8.3% in 2008; 15.1% in 2009; 19.7% in 2010, & down 25.6% in 2011."
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.