Sick Market Moves While Gold Remains Weak
gold-eagle.com / Warren Bevan / December 20, 2014
A wild week for markets as they were very weak…but then rallied hard and fast and did so without much of a break, which meant I could never really pull the trigger and feel comfortable doing so. Consequently, I missed much of the rally higher.
We do need a rest here and then we should get some buy points, the problem is, we saw a very similar correction back in October. In October, we rallied hard and fast initially and then we slowly moved higher from there up until this most recent correction. And while the trend was solidly higher, many stocks did setup and give great moves quickly, but then they slowed or faded. That just means we may have to buy the breakout and only hold for a day or three before locking in gains.
It looks like it will remain a stock picker’s market…and also an active trader’s market. We will make great gains no doubt, but we do have to be active and on the ball, not just using a buy and hold strategy.
As for the metals, they did show some strength briefly two weeks ago, but that faded and they are still pointing to lower prices from what I see. From what I am seeing, gold will still hit $1,000 and silver should coincide by hitting $10 at the same time. This could come within weeks, or months. I have no way of knowing when lows will come, but they are not yet in I can all but guarantee you.
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