Issue #153
Dear Member,
Gold is taking it on the chin today, down more than $22, failing to react to geo-political tremors. Silver is also down hard. Overall, it is not the action we want to see, and it appears that the bear may be making a comeback.
The long-term outlook for the precious metals and mining shares remains very positive. But there is no denying that the strength in the dollar and the flight capital coming out of Europe at this time is opting more for cash and the equity markets than for the precious metals.
The short-term action is showing some signs of bottoming on the charts, and we should soon see a decent bounce off the lows. The nature of that bounce will determine my next recommended moves.
For now, hold all positions. The mining sector is holding up much better than gold or silver.
If the bear is truly back in gold, not to worry. You will be the first to know and you will have plenty of opportunities to make money on further downside in gold and silver via inverse ETFs.
In addition, as discussed in the recent webinar, there are many new opportunities coming up, especially in the energy markets, which I will not hesitate to have you jump on.
I will have a more detailed update on gold and silver in the next few days, so be on the lookout for it.
Best wishes,
Larry
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