Hi G/S and others ... That's interesting. So too is the latest from Colin Twiggs .. here's a few bits:
"The Dow broke through primary support at 12800 (the August 2007 low), signaling the start of a primary down-trend....
As discussed in Saturday's newsletter, the US economy is at risk of entering a prolonged recession if the public's faith in the security/stability of the banking system is shaken.
Gold Gold is a safe harbor in times of financial upheaval and I expect the metal to continue its primary up-trend for the foreseeable future. The long-term target is $900.
The euro and gold are advancing side-by-side against the dollar. A gold breakout above $845 is likely — and would offer a short/medium-term target similar to the long-term target of $900: 845+(845-775)=915.
Crude Oil January 2008 Light Crude displays a bullish narrow consolidation above the new support level of $96.5. Expect resistance at the $100 barrier, but the calculated target is higher at $103: 96.5 + ( 96.5 - 90 ). "
I would not be betting on a broad based recovery in the DOW ... the time is right for selective buying ... I am essentialy sticking to gold and oil counters until the picture clarifies.
Good luck.
NCM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
