...just finished getting myself off the floor-- FB's latest laid me flat out with his BUY BUY BUY gold stocks at the open tomorrow, with no stops, and at a 90% weighting.
hmm...
I also noticed that Saville turned "bullish" from "neutral" (he was neutral throughout the 27% correction on the XAU)
I'd laugh my ass off at all of this until you start looking at the currency markets-- a short-term bounce in gold would make sense-- A$, C$ and the R look decent here with the US$ looking a tad (ST) overbought.
The CRB and WTIC (looking range bound) not a bad bet-- again in a very ST time frame. On the other hand, copper, gold, silver and PGM not so nice-- and U.TO not looking very good either.
On the equity side-- the TSX energy, gold, diversified mining and materials indices look extremely weak.
My advice...???
Sleep in tomorrow morning, this way you'll have the opportunity to buy into the lull at lunchtime if it plays out like the market timers say it will-- if it doesn't play out and you start hearing that giant flushing sound you'll be glad you didn't jump in with both feet. IMHO, I need "confirmation" that actually there's going to be a pivot point in these charts before I'll ever bet another dollar.
Take care.
FP........................................................
AI
