I saw a glimmer of hope for POG and POS while watching Kitco today.
Gold down almost 3% Silver down almost 5%
BUT
XAU index was up over 4.5% HUI index was up over 3%
What that means is that the majority of gold and silver miners were running up while POG and POS were running down. This is odd behavior and does not happen all that often especially at this magnitude. However, it has happened in the past at the end of major corrections.
Things look pretty dark right now, but there are a few signs out there that the tide might be turning. Of course, there other signs that point to more pain before the tide turns. So take everything with a grain of salt...
While I believe I understand your underlying sentiments, I'm puzzled as to why you would be proclaiming that "things look pretty dark right now." Are you trying to liquidate your PM for FRN? If you're a hoarder or PM accumulator, you should be thrilled at the price drops, no?
"Truth is treason in the empire of lies." -Ron Paul, from _The Revolution: A Manifesto_
A Glimmer of Hope?
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Posted - 09/10/2008 : 15:41:51
