BRIEF MARKETS UPDATE (3:40 pm EST)
I am remaining out of all markets today and will analyze reaction to today's Labor Department data over the week-end.
The broad stock market seemed initially unfazed by the slightly disappointing (but not bad) employment and job numbers early in the day, but the DOW started tumbling later in the afternoon and is now (3:38 pm EST) down about 140 points. This is a typically confused, nervous and indecisive stock market and we need to exercise caution in trading.
Gold surged up today, but both gold and silver's directional momentum remain mixed bullish and bearish and their prices are rising into the center of a timing zone for a likely reversal in the precious metals. Another downturn may therefore be imminent.
I am remaining out of all markets today and will analyze reaction to today's Labor Department data over the week-end.
The broad stock market seemed initially unfazed by the slightly disappointing (but not bad) employment and job numbers early in the day, but the DOW started tumbling later in the afternoon and is now (3:38 pm EST) down about 140 points. This is a typically confused, nervous and indecisive stock market and we need to exercise caution in trading.
Gold surged up today, but both gold and silver's directional momentum remain mixed bullish and bearish and their prices are rising into the center of a timing zone for a likely reversal in the precious metals. Another downturn may therefore be imminent.
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