Friday the 13th and all that…

There have actually been two valid short basing points in this downtrend and there is as yet no sign of a bottom. It has been a mystery to us anyway how the chart could have broken above 128, except as a bull trap, which now appears to be the case. We have been saying for months that there were limited opportunities in indices and now we think that more than ever.

We wouldn’t be long any bonds if we could help it, or, if we were we would be looking for hedges. The bond picture is looking darker and darker.

Silver, like gold is in its consolidation phase. It’s bull market is not over. So long term positions just wait for an opportunity to add on.

We have been mumbling about the dollar for quite a while, seeing signals and getting spooked and playing with fire.We don’t think the dollar rise will be without dangers, but signals are certainly being thrown off here.

Last week we remarked that we could see buying the dollar ETF, a remarkably speculative thing to do.

Silver, like gold is in its consolidation phase. It’s bull market is not over. So long term positions just wait for an opportunity to add on.

Compare this chart with that of last week. The dollar ETF.Yes, Victoria there is a crystal ball. (PS don’t blame us if this picture changes next week. But we will be sinking some personal capital into this ETF.)

Next PostRead more articles

Leave a Reply