3 replies to this topic

[thoughtpwr]

As I mentioned in a previous post when the Sell signal when on, I thought silver would play catchup to the downside on this signal. The signal proved to be a good one as it kept me out of gold stocks short term. Two silver signals ended 4/22 & 4/24 and gold/silver have signals ending 4/26 close. A copper Sell ends 4/28 and a copper Buy starts 5/6. Some Bond Longs begin 5/15 & 5/20, which should bolster the precious metals, as it was not until the Bonds fells so sharply that the gold/silver complex began to crumble. With Berstein and Dines both calling for a Buy signal here on a test of support, things look encouraging. Although I do not like this basically calling for a rally in the precious metals while the stock market is weak. This would be a change of character if it were to happen, as gold has lead the stock market up and been the real leader in this whole rally. Maybe it is possible because of things getting worse in Fallujah, etc. Several Sells continue in gold until 5/2 & 5/4, which is probably where the retest is made. My personal favorite pattern for the last several months was to test XAU at 87 and then rally back to the highs before we sell off to a second retest of the 90 level. If the rally occurs this may be possible. I am not convinced silver doesn't go lower than its current levels, another seasonal Sell begins 5/24 and runs through 7/3. That timing would be in concert with a rally and then a retest of the above mentioned pattern, as the 9 mo low should be ending in that time frame as well. EJ

[Regent]

I agree. Long PAA at C$19.12. Stop on NA silver close below $5.85

[skott]

thanks for the info thoughtpwr. Scott

[thoughtpwr]

I guess with the 87 area broken, we know gold/silver will lead the way down.