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Message: Re: Gold Market Update Clive Maund
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Jan 23, 2011 04:24PM

I agree with Clive here - the big cap gold & silver stocks are due to have a nice little rally. This, at a time when most everything else appears to be just starting a correction. Internals in the US market have turned negative, and some key leading indicies appear to have already cracked, such as the Russell 2000, and the trannies.

I'm hoping that a rally in the big cap PMs will support the small caps (I'm still trying to sell Venture stocks into strength). If this happens, the Venture should back test the uptrend line, possibly even making a new marginal high. My gut feeling is that it will not recapture the trend line, but we'll see - correction in the Venture won't be official until it closes below 2210.

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