May 18th, 2009 | 
Author: While we have had the break out of the Gold Silver ratio and of various Commodity indexes in infationary directions, we still have not seen a break out of silver. Here is an updated point and figure chart of SLV the silver ETF.
The information regarding Commercial (insiders) and Speculator positions published in the Commitment of Trader (COT) reports on Friday still support the contention that this is a bear market rally in the precious metals also.
What Are All Those XXXX’s and OOOO’s on the Charts?
( No Dear Reader They Don’t Represent Hugs n Kisses! )
Several readers have indicated that they are not familiar with the point and figure charts that I use for illustration purposes in the blog. John Murphy (world class technical analyst) provides an excellent overview of Point and Figure charting on his web site StockCharts.com. If anyone is interested in why I use these “old fashioned” P and F charts drop a comment requesting additional information.
Do not get the idea that you can trade or make investment decisions from my blog entries. These are an introduction to my services and do not constitute investment advice.
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