I won't speculate on more QE but last night was what I had expected on the Dow/sp500 when I saw the inverted hammer I posted on the daily. Most media outlet were reporting how it was a dead cat bounce. Whether it rally back to the top is a different story but I could see the short term bottom anyway.
It does not bode well for gold, and even though I saw some value in the gold sector, I suspected gold was going the same way as the other bear rallies.
Silver was just telling with the leading fall through support that these PMs have lost their natural hedge and behaving like a commodity in the supply demand cycle.
Will be on the sideline again for an opportunistic buy but judging on my intervals will be many more months before I see any more compelling reasons. Healthcare is the sector Of defensive stable divvy play I reckon.
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