RE: RE: RE: RE: RE: RE: David Driscoll Market Callridingthetrend...take a look at the $XAU or the $HUI charts... they both show the Fast and Slow STO in the 86.65 range. Which means over bought both indexs the Gold and Silver Index and the Gold Bug Index appear to be topping out both could pull back their 20 Day MA. Not written in stone but very likely.
I would wait before getting into any gold or silver just yet...and as far as... which is the better bet in future performance Banks or Gold...who knows?
The Banks are at the bottom of their cycle the Gold and Silver Indexs suggest they are at the top of their cycle.
Do what you like ...just look at the charts before you leap. And a lot of the Big Gold stocks still have pretty rich P/E multiples and lower Dividends then the Banks... for example YRI has a P/E of 17.3 and a dividend of .04 cents and ABX has a P/E of 18.7 and Dividend of .49 cents ... the banks... Canadian Banks have a P/E of around 10 and pay around 3.00 + in dividends ...but I'll let you decide.
Just hoping all my Covered Calls get assigned come this option friday...
Cheers....just trying to stay warm here in Alberta.