Metals Higher - Dump some stocks - General Market Still in Doubt

BYD Company has taken a big hit and it looks to be going lower for the time being. I sold some to lock in profit and plan to buy back in at lower prices if it goes there. It looks to be a sound company, but was shocked by the court decision and loss. I believe that it will, not only recover, but move much higher in the near future, so I am ready to buy back in.

Silver has fit itself in to a higher trading range similar to that of gold.

As this is written at about 9:30 pm Wednesday, gold has spent most of the last 3 days in a trading range of 1130 to 1150. It broke above 1150 tonight, but fell backs some.Has gold formed a fairly neat "W." It has gone upward since then and has made a very strong showing. We have yet to experience a correction after this last upward sprint. Is one coming? I do not know, but the technicals indicate it has further upward room. It could coast a bit and build stream for another strong upward move.

The gold bugs are showing rather strongly, as well. The only technical detractor is the RSI which seems to be turning downward.

Now, take a look at the two graphs below which are showing no response to the new higher gold prices. That is a bad sign and I am selling all of my holdings in each of them. Consider the same for yourselves.

Gold is now 1141.50 and silver is 18.48. So both are holding well at night. I expect both precious metals to be riding high around the end of the year. We are due for a correction as the run up has been very rapid. However, with the central banks jumping into the buying who knows?

I am planning on adding more of the metals and the metals accounts. I will and if you do, commit your plans to the Lord in prayer and work in accord with them while trusting in the Lord for His results.

Best to each, Doug