Top Advisors Corner

W.H.C. Bassetti: October 4, 2014

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Gold and silver are in extended downtrends.  Worse for gold it has just broken to new lows on a gap down.  Being long is an invitation to a diagnosis of masochism.  Buying these issues before they form bottoms and show strength is a good way to dispose of capital.
We have been short silver for quite some time and the chart encourages us to add on to our position:

 

The PnF chart has a startling target for silver.  We don't know whether we believe it or not, but if realized it would be a spectacular trade.

W.H.C. Bassetti
Malcom S.M. Watts III
Adjunct Professor
Finance & Economics
Golden Gate University
edwards-magee.com
bassetti@att.net

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