Monday, October 5, 2009

Precious metals finally going to start the "REAL" breakout

Precious metals (PMs) were up today with gold getting very near its all-time high again today. One thing I noticed last week was that the PMs were strong even when the dollar was up and the market was down which is a divergence that could have been the tell for this next move higher. Plus, I have been hearing alot of people talking about gold pulling back lately (even bulls on gold saying I will rebuy lower). That is usually when those "experts" are surprised and miss the first 5-7% of the next run. I would imagine a lot of stops are set right above all time highs and new money will come in at that same point.

More on my thoughts on the PMs later this evening.

5 comments:

  1. dollar getting ripped this morning, PMs up, market up...

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  2. i assume one reason the dollar is down is Australia unexpectedly raised rates and the US is expected to be the last to raise

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  3. GOLD to new all time highs premarket!

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  4. the demise of the dollar article fir those interested

    http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html

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  5. gold strong today despite the stronger dollar

    kind of a character shift

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