Issue #147
Dear Member,
There’s no question gold and silver are acting a bit weaker than I had expected. But thus far, there are no changes in my outlook.
Here’s the gold chart I showed you in Tuesday’s webinar. Gold has indeed pulled back in the alternative scenario I laid out for you (ditto for silver) — but both metals are holding key support and remain poised to liftoff to the upside.
Bottom line: There are no changes. Hold all positions and keep your stops in place.
In addition, yesterday’s sell-off in the broad 300-point plus decline in the Dow Industrials now confirms the top I had mentioned in the webinar.
However, it seems the initial downdraft in the stock market caused a kneejerk reaction, prompting many investors to sell the kitchen sink, including gold and silver and mining shares.
I do not expect that to last. We should soon see a bounce in the stock market, then another leg down — but on the next leg down in stocks, the metals and mining shares should come to life.
If anything changes, you can bet I will alert you.
Stay tuned, and be ready to …
A. Add more metals positions soon. And …
B. Add a short position on the stock market, via an inverse ETF, once I see the bounce that should soon unfold.
Best wishes,
Larry
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