U.S. Stock Market – I don’t believe the Cyprus situation is big enough (yet) to cause any meaningful sell-off in the stock market. While the market is overextended, it has yet to suggest a meaningful correction at the minimum is upon us. However, I do wish to remind you that if it was me, I would be implementing a scale-up sell program.
Gold – After several good days it should come as no surprise that they now try a typical “walk-down” to erase much of the gains in minutes and hours that took days to achieve. With silver relatively weak and shares even weaker, we’re left in the hands of the Crimenex this morning – how nice! Just once I like to see them get whats coming to them but believing today shall be the day has led to nothing but disappointment up until now.
Mining and Exploration Shares – Remain totally engulfed in the worse junior resource market in 30 years. Nothing outside of time and a gold price above $1,700 can change this. Investors only have one word on their mind (sell) on any increasing volume and price lift. I can’t blame them.
Weekly GDXJ Chart below:
….a read suggested by Peter Grandich:
Bond crash dead ahead: tick, tick … boom!
Commentary: ‘Investors have no idea what’s about to happen’
…..read it all HERE