My access to chart analysis data has been restored today, and I now have a slightly better picture of the markets that were discussed on yesterday's blog. Both gold and silver metal prices remain mostly unchanged today, and the signal we would like to see for selling short has not yet appeared in the charts; however, several indices that track gold and silver mining companies are showing this bearish signal in their charts today, and since the precious metal mining company stocks often lead the metals, this may be pointing towards the correction we want to see now in the price of both gold and silver. Silver is still looking a little stronger (less bearish) than gold right now so I am going to wait either for the price to move closer to $26 or for that sell signal to appear before shorting it. We went short in gold yesterday and are still holding those positions, but we will remain out of silver for now.
The broad stock market and crude oil continue to manifest mixed signals, and we are still out of both these markets.