Precious Metals Get Whacked!

For weeks now I have been posting about the very tight range that the precious metals markets have been trading within. I have repeatedly written that "CAUTION" is the word of the day.

Today GOLD made a very BIG move, just not in the direction that many BULLS had hoped for.

The LOW came in today at $1886.25 per ounce, a price last seen on August 11th. The BULLS did recapture the $1900 per ounce mark before the close, but severe damage has been done.

When GOLD catches a cold, SILVER usually catches pneumonia!

The LOW in SILVER came in at $23.81 per ounce, a price not last seen since August 11th.

GDX, the miners, CLOSED at $39.82 below the lower Bollinger band at $39.88.

With the stochastic pointing down and GDX below the Bollinger band, the BEARS have put the 100 day moving average of $38.11 into play.

The BIG culprit in all of this is the DOLLAR.

I will let you decide if the chart shows a large base from which the dollar can rally.

CAUTION remains the word of the day.

If you are a stacker, then great news the shiny stuff just got cheaper.

Peace out and stack on!