@some point the crowd realizes the fed is stuck in hotel california. either they print or we implode. tapering was great. it will end and my guess is it ends soon.senor the feeling was so suicidal @ the 1280ish area , my preferred count is the whole correction ended there 1358 if taken out will confirm that. if not then c is a possibilitynot very good silver action after the spike up to 20.23 it looks like a clear dub zigzag upward correction and "ideally" I would like to see one more marginal silver low below 20.58 for a possible important bottom, maybe it bottoms ugly but there is nothing bullish looking to the upside and miner rally is fading a bit as well, tough call here
BSing away
Senor
i pointed out a while back about the possibility of an inverse h&s pattern for gold and the miners. now its there plain as day. the market needs to get above the neckline to activate.
my take on silver is simple . it is an industrial metal 1st @this time, and since biz is not robust it is in the dog house. @first it will be dragged up by gold , then the speculation comes in. cbs are still buying gold and so are the chinese. lots of puppets running for office in india. modi is the man, hopefully for gold and indias sake modi wins. elections there are not not for their honesty.
dharma
I agree with U and have added a few miners/ETF's today, still a light trading position but I prefer to err on the side of being long. we either finished an "abc" correction in miners/gold/silver at todays highs or it is 1-2, i-ii to the upside, we see, my worry here is that a BIG stock market decline could drag down the miners with it for a while
PureBS
Senor
the print a thon world wide will continue. @the lows in december big money and volume came into the miners. something changed. i suspect that the realization, that the miners were cheap and the cbs are stuck between printing or face the abyss. bernake was a great intellectual professor, who had no clue on any markets , his record was consistently wrong. his calls a fade. although he did opt out, before the full consequences of his insane monetary policies surfaced. although not w/o the middle class being decimated
dharma
Well said. Hey, maybe we can get another housing boom. LOL
