Dow breaks 13,000 and promptly reverses - Page 3

Nowwhat, I can assure you that if we get a major correction, gold and other precious metals will NOT go down.

Quote:

Originally Posted by Venom08 

Nowwhat, I can assure you that if we get a major correction, gold and other precious metals will NOT go down.

I dunno about that

Silver has a descending triangle on the daily, Gold has a 50ma/200ma bearish cross and lower highs.

Its an interesting situation brewing. I'm a bit biased as i am short gold right now but things to consider. The metals may be hinting at a correction in the making.

Quote:

Originally Posted by kylestt 

 

 

I dunno about that

 

Silver has a descending triangle on the daily, Gold has a 50ma/200ma bearish cross and lower highs.

 

Its an interesting situation brewing. I'm a bit biased as i am short gold right now but things to consider. The metals may be hinting at a correction in the making.

Usually the dollar would be going down as well as the major indexes in a correction which would cause people to buy precious metals. I'm not denying it if you say silver is going to decline but we are not in a major correction yet.

Quote:

Originally Posted by Venom08 

 

 

Usually the dollar would be going down as well as the major indexes in a correction which would cause people to buy precious metals. I'm not denying it if you say silver is going to decline but we are not in a major correction yet.

Of course not, i'm not saying we are in a major correction by any means. But I wouldn't shun your eyes at metals, as they are certainly in a downtrend. You should actually look into grabbing some puts if they are to your liking. Lots of volatility in the option chains like SLV and GLD.

Quote:

Originally Posted by kylestt 

 

  "The metals may be pointing to a broad market correction......"

Yes, and this correction won't hit bottom until the HUI hits 400

In perhaps in oh let's say, how's about in September/October ?.......

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Yes, Next Stop HUI 400 !.....

That's when all Markets will bottom !....(imho)

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Google by that time, will be at $500 Bucks.....And

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The DOW will be at 1-2-2-2-2 :

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Quote:

Originally Posted by Venom08 

 

 

Usually the dollar would be going down as well as the major indexes in a correction which would cause people to buy precious metals.......

I suspect that the only "safe place" to be, will BE in the US dollar !....

As this UUP's 22 Dollar Level ?......Becomes a huge stunning Support :

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