April 28th, 2009 | 
Author: The Commitment of Traders COT reports from last week show that the commercial traders (the insiders) have been buying gold and silver. The speculators have still spent most of their available funds so this will not generate a new bull market. Short term the precious metals are not likely to break down as I had anticipated but will possibly drift higher. But stay tuned, gold and silver will still be available at much lower prices as soon as the Mini Bailout Bubble exhausts itself. Patience dear reader. The opportunity is probably 3-9 months down the road.
Your ever vigilant analyst. 
PS: If you were watching Silver after I posted the point and figure chart, you noticed it didn’t break down and confirm gold’s break down. That kind of a non confirmation was an early signal that something had changed.
Stay tuned for more!
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