Black days ahead?Last week I posted that the DOW had broken long term support at 7,500 and there was no real support under this level until about 4,000. When everyone finally figures this out we should be in for a Black market day somewhere in the near future. Well it dosen't look like it will happen today. I think the PPT is stepping in and pumping a bit of cash at the market today in an attemp to continue this rather anemic rally that is going on.
Earlier I also posted that giving the current strength in POG and gold shares I really didn't know if the general market malaise would spill into gold shares. Todays action in gold stocks can be mostly attributed to the fall in POG but, I don't really want to be holding any stocks, including gold stocks if the market decides to take a 20 or 30% drop in one day, and I do belive that day is coming.
I do continue to buy physical gold and silver since it appears that everyone will sucked into a cash position prior to all fiat currency returning to it's intrinsic value.
Good luck Goldbugs.