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Little to Work With for Bulls

 

By Richard Russell

 

The market may be on the rebound from the crash. So far, in its enthusiasm, the market has rebounded further than expected. This morning as I write, the Dow is down 10, Transports are up 55, and the Nasdaq is up 15 to 4,831. Meanwhile, gold is up 9.7 to 1135.2 and silver is down a penny to 14.50. For the gold miners, GDX is up .30 to 14.09 and GDXJ is up 0.91 to 20.41. The answer to the trend may be resolved at today’s close.

 

Since I'm a cheerleader for the US, it’s obvious that I have an upside bias. So far, the stock market has given the bulls very little to work with, and the bears have their hopes up. As for gold, I think we have finally seen a base established. Any close above 1134 should be taken constructively.

 

Many subscribers have asked me about PRPFX. The 52 week high was 47.79 ... Log in or subscribe to continue reading.


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