AI
Friday, September 23, 2011 1:49:34 PM
Markets stable as precious metals nosedive.
Quite predictability, the overall market today found its' footing on long term support.
What comes as a surprise is the huge tumble that precious metals – typically considered as a “safe haven” in times of uncertainty – are taking today.
It's too early to call any of them a “buy” at this point, as there's no telling how far they may fall now that critical support boundaries have been breached. For the moment, I'm standing on the sidelines in anticipation of adding some precious metals to my portfolio.
The charts:
Quite predictability, the overall market today found its' footing on long term support.
What comes as a surprise is the huge tumble that precious metals – typically considered as a “safe haven” in times of uncertainty – are taking today.
It's too early to call any of them a “buy” at this point, as there's no telling how far they may fall now that critical support boundaries have been breached. For the moment, I'm standing on the sidelines in anticipation of adding some precious metals to my portfolio.
The charts:
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