Bullion Charts and Commentary
posted May 13, 2006 at 06:24PM
Actually just a few words. I would be very careful about putting new money in right now. From a technical picture the odds are against you.
Wait for a dip.
This refers to trading positions or for adding new position. If you have good entry points in good companies and are comfortably in the green then I would be very wary of trying to "time" an exit and reentry.
Forget about the 200 dma...in Phase II type markets they are rarely tested. I suggest the 50 dma will become the defining support metric. Bob Hoye, in a recent article on 321gold suggest the 20 ema.