Well, SILVER & GOLD PRICES did it today, closing over my 1380 target at 1388.3 and over 750 at 751.30. Like anybody in his right mind, expecting another long advance after we've just completed one makes me nervous. But that's what bull markets do, climb a wall of worry against all expectation. Next logical stopping point for gold is 790 - 800, and the old all-time high at 850. Silver has yet to best its May 2006 high at 1486, so that is its next target. Above 1500 there's small resistance at 1800, but no real barrier until it hits 2400. Yes, I know it sounds crazy, but that's what's on the chart. I'm not the choreographer, just another dancer.
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Yeah, Buddy, those STOCKS have really taken off. Dow has now sunk back to 14,000, but I might be wrong. It might be just touching back to the breakout point. Either way, I don't want to own stocks, not with the Dow in Gold Dollars down today to G$385.62 (18.587 oz), which is, by fifteen gold cents (0.0072 oz) a new low in the DiG$ for this move. It must stop & reverse here, or it will drop to G$369 (17.757 oz). The very reliable DiG$ is telling us, "Stocks down, gold up."
The US $ INDEX gave up another 32 basis points today and is trading now at 78.15. That's about where it ought to turn around and begin another leg up. Previous low was 77.66, so what we might see is a double bottom around that point, and then a rise. Keep on expecting the dollar to hold that 77.66 and rally, rather than falling to the center of the earth at this time. That will come later.
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.
