Occasionally I need to remind myself that yesterdays dip was a buying opportunity, not a selling one.
Opinion basically the same as yesterday.
I let the market tell me what is going on, not MSM columnists - or Skol.
I did not sell any stock yesterday.My leading indicators had fallen in a heap yesterday (36% from 58% a week ago).
A browse through the watchlists showed a potential significant reversal to the upside yesterday. And what a reversal.
Short term indicators back to 52%.
Seems to be happening again today.The perennial question – do stocks lead the gold price or vice versa?
With 5 years of data I can tell you there is no evidence of one or the other.
If anything you may be better off using a bellwether stock. And these miss highs and lows for POG by weeks.
The indicator averages these moves.
I consider the current price of gold excellent. Lovely consolidation, continued drift higher.
The slightest wobble in the market and I expect stock prices to move higher hard and fast.
Stock prices are still disconnected from the price of gold. The effect of risk-on.
This is only my opinion.