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Brad Gudgeon

Brad Gudgeon

BluStar Market Timer Investment Philosophy: The stock market is currently in a technical Elliott Wave Bear Market Rally. It has been exhibiting A-B-C type waves…

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Gold, Silver, Mining Shares: Big Drop Dead Ahead!

Last time I wrote, I pointed to May 19th as being a likely, important bottom in the precious metals complex. It is May 16th in the evening as I write this. If I'm correct, the next three days should prove to be huge down, especially for the miners. Most analysts admit that we are overdue for a correction, but they have no idea how fast and furious it may turn out be.

Below are charts of GLD, SLV and GDX:

SPX Daily Waterfall Chart
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SLV Daily Chart
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GDX Daily Chart
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Brad Gudgeon, editor and author of the BluStar Market Timer, is a market veteran of over 30 years. The subscription website is www.blustarmarkettimer.info

 

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