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Message: this combined with bnn comments
seems to sum up the situation..most likely more upside going into 2010..so sounds good for prec. metals but don't count out somewhat of a correction.......but frothy markets eventually could drag everything down and in particular comodities for an approx. 25 percent or so correction........so I guess be prepared as usual....nothing goes up forever.....
METALS:
We stated last week that, “the secular bull in both Gold and Silver remains alive and well despite short-term ‘frothy’ conditions which can persist longer than one may anticipate”, which remains the case today as well. While both Gold and Silver continue their uninterrupted run into northern territory and remain overbought from a short-term perspective, such conditions can and often do persist longer than one may anticipate. Nevertheless, despite both Gold and Silver’s swoon lower in pre-market action on Friday, both the ‘yellow metal’, as well as ‘Hi-Ho Silver’ recovered smartly and picked themselves up off of the floor to close with minimal damage (extremely bullish action), yet perhaps more importantly, displayed the strength of both metals. For the week, it was a ‘mixed picture’ as Gold finished with gains of 2.2% to finish out at $1,176. 70, while Silver was not as fortunate and slid by 1.4% to close out the week right on our referenced $18.25 level that we have been directing readers attention. Moving forward, ‘yellow metal’ now has the ‘potential’ to ring in at $1,300 +- (weeks/months) a few ticks, while we would not be the least bit surprised should Silver embark on a run to the $20-$21 zone in the weeks/months ahead. As members/readers are well aware, the metals, both physical and Jr. shares, have and continue to be our preferred investment/trading vehicle of choice.
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