Thursday Sept 12, 224
stocks ralllied today as I thought they would at least till the end of the week. SPX on the two hour chart looks like it has more room to run before topping. And then there is the FED meeting Seot 17-18 next week. Notice PMO is pickin g up at bottom. I would not expect RSI at top to exdee its late August high.
One might enter a ladder of lower orders for the bear funds we have discussed.
Silver is finally taking off, it rose over a dollar today and gold rose $43.30. Dec silver closed at 1.26. I have urged patience and that is now paying off. Here is PSLV the Sprott silver truse. Coeur Mining took off up 20$ today on a good mine announcement. But anything can happen to a miner and the group has lagged the metals.
The big gap up is the kind of thing that kicks off a very big rally. Add more tomorrow.
I will post my weekly column later today, there are numerous indications of a slowing world economy. This is in keeping with our idea of a significant market top which may well last for several uyears.
Crude oil also took off the last two days, has it finally found a bottom? I think so, makes sense that metals and energy are rallying.' Anotehr day of rally should turn up MACD at bottom.
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