YTD -2.89%
SPX +1.84%
GLD -5%
SLV -11.5%
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| So lets look at some cases one could make for whats happening in the metals, case 1, We have gotten real excitement (Target 250) over the metals, mania (public) and a blow-off top (Nope not that right no evidence of it) Case 2. TRAP (Target 127 on GLD)? Volume of this sell-off has been peculiar to say the least the price keeps declining along with the volume and this could be the trap . If there was tremendous volume at the start people would have run for the hills, so one more big leg down to the 150 very possible). Case 3. Profit taking balancing (Target 130), re-balancing portfolio, (maybe but too easy not painful enough, and I haven't felt enough pain yet, usually when i sell its right at the bottom) Case 4. There is no inflation, debt situation improving, dollar is doing well, job growth! So we know its not the last scenario (Target 80). I think its case 2. though I really don't want to feel that pain but thats what you usually get if you want to ride the bull to the finish you gotta get prepared to get thrown off a few times! |
Silver is a complete disaster! Down 11% plus on the year its really hurting to hold this right here. So here the situation, 25 was the level the shorts screamed as it blasted to 28, just look at the short covering volume and sell-off. I think we are at or near the completion of a head and shoulders pattern, today we need a big day of early high volume selling followed by late recover, need that hammer to print today.
Gold Miners
GDX -11%
GDXJ -13%
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| This is a thing of beauty, my target for the year is 7.5 bucks not too late to jump on board. |
Uranium Miners Basket
URZ +19%
UEC -13%
CCJ-5%
Petroleum Energy
XLE+2.74%
Ag
DBA +2.25%
Short Long Bond
TBT +6.8%
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