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
