Gold and Silver are walking the line of unchanged this morning but I haven't given up on my theory that a "reversal of fortune" is about to take place in the metals complex. This is a great example of Inter-Market analysis where the direction of one market correlates to the direction of another. Yesterday I alerted our clients to a scenario that isn't dead yet even though it didn't quite play out the way we had expected it to. This is like "deja vu" all over again. I can remember the stock market crash of '87 as if it were yesterday. I believe this October, like October of 1987, may have a surprise for the markets that will drastically change traders' perspectives. Is there anyone out there in the financial world that doesn't think that "UP" is the only way stocks can go? Complacency is like a cancer - once it's discovered it's usually too late to do anything about it. So traders need to keep their fingers on the trigger and be ready to BUY GOLD and SILVER between now and Friday if my theory comes to fruition. It could be the last great buying opportunity of 2006.
Dale F. Doelling
Chief Market Technician
Trends In Commodities
No comments:
Post a Comment