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Politics : Welcome to Slider's Dugout

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From: SliderOnTheBlack	11/2/2009 2:27:08 PM
	5 Recommendations Read Replies (1) of 49959

Gold & silver up, dollar down, and PM stocks following broad market reversal? They sure know how to ruin a Monday rally don't they? Gold and silver stocks are tracking the moves in the broad market more than they are gold & silver and the dollar over the last couple of days. That tells me one of two things... 1. There's still too much momentum money in PM shares. 2. PM shares are still being raided by the short sellers. I would think that the majority of momentum money has already been washed out on this pullback, so I have to go with #2... the shorts are still pounding away. Time will tell. I baited a few hooks and threw out a few more fishing lines in case they want to take 'em lower. Can't blink, or fold with old resistance of $1,000 gold still holding as new support. Waiting for 2nd tranche of UNG @ $9.65 as well. SOTB

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