Gold, silver, bonds…

0615slvpnf(no link possible go to stockcharts.com to see larger chart.)

Well thius should be discomfiting to silver buffs.  The PnF chart looks for a target of 8 in silver.  There is a clear downtrend in SLV.  Whether it reaches 8 is another question, but the chart is clear.  Good traders should be short silver.  We are short with the reverse ETF,ZSL.

The PnF chart is also bearish GLD.

0615gld(no link)

The method looks for a target of  92 in GLD.  We are short using the reverse ETF GLL.  These ETFs are leveraged 2x so it bears repeating that vigilance must be observed.

Readers are probably tired of hearing us say that bonds are a train wreck waiting to happen — in fact maybe beginning to happen already in slow motion.

0615tltpnf(see stockcharts.com)

The method looks for a target of 106 in TLT.  As we analyzed in our recent letter on the massive head-and-shoulders in bonds we think that is just the tip of the…  The rest of the iceberg should result in a avalanche of devestating proportions.  We are short with the leveraged ETF, TBT.

Positions taken up now should use at the least a money management stop of 6% unless otherwise informed.

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