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Honest Money Gold and Silver Report: Market Wrap Week Ending 8/13/10

Stocks had a tough week losing almost 4%. This correction has changed the short term trend from up to down. Now it remains to be seen if the July lows hold. If they don't, the next phase of the bear market will be unfolding.

It looks like the lows will be tested; and I believe that eventually they will be broken; however, I'm not sure it will happen on this particular move. There may be one last rally yet to come.

Presently, the risk off trade is back in the driver's seat. Volatility continues to be the dominant theme. Both bulls and bears are getting chewed up alive...

Honest Money Gold and Silver Report: Market Wrap Week Ending 8/13/10

 

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