GST Issue #205
Dear Member,
The markets this week have been “much ado about nothing.”
* Gold’s traded in a tight, $20 range, back and forth.
* Silver in a minor $0.52 range.
* The Dollar Index has traded in a tiny 2.5 point trading range.
* And the Dow Industrials in a 270-point range.
That said, I expect next week to bring more action as the ranges start to expand. Importantly, there have been NO trend changes. ALL major trends remain intact …
* The downtrend for the precious metals has merely paused. Though there could be one more rally attempt, I repeat my warnings: The next BIG move will be down.
* The uptrend for the dollar – and downtrend for the euro – also remains intact. Despite what you hear, the U.S. dollar remains poised for substantial new highs.
* The stock markets are still topping, based on all available evidence. Same thing here. The next big move in stocks should be to the downside.
* Ditto for China’s stock market, which is way overdue for a correction.
For now, hold all positions, with their related stops in place. For the options recommended, there are no stops. I am watching them closely. But keep in mind options are strictly limited risk, and you may have to hold these to expiration.
If on the other hand, I get clear signals you should exit them, even at a loss, I won’t hesitate to recommend you do so. But right now, all of my models tell me you are on the right side of the market with the existing positions.
I expect the markets to loosen up next week, and will therefore likely have new recommendations.
Stay tuned!
Best wishes,
Larry
P.S. Do you have any questions or comments? You can drop them in my Editor’s Mailbag, and I’ll get back to you in a future issue.
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