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On Thin Ice

 

By Richard Russell

 

I consider the Nasdaq to be the market leader. The Nasdaq includes Apple, Google, Microsoft and Facebook. Apple alone comprises 7.4% of the Nasdaq, and Google comprises 4.8%.

 

I’ve been watching the major averages in relation to the even thousand levels. Happily, as I view the market every day, none of the major averages have broken their thousand levels. The Dow is still above 17,000, Transports are trading above 8,000, and the Nasdaq is barely above 5,000. There are 7 distribution days on the widely watched S&P, suggesting that the institutions are taking profits or establishing losses.

 

As for the precious metals, spot gold as I write is up $2.6 to $1092.7. Better acting silver is up 8 cents, to $14.76. I continue to advise buying the monster boxes of silver coins. These are now popular and the delivery time is stretched out to 3-5 weeks.

 

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