MDM - On silver and gold...
Our inclusion of silver and gold ETFs in yesterday's MDM buy signal is indicative of both the fundamental and technical backdrops as discussed in prior reports.
Should MDM turn to a neutral or sell signal, it does not mean you should automatically sell your silver/gold ETFs since these are ETFs that are focused in one area.
GLD broke above its midpoint 151.45 earlier today. This could be an opportunity to initiate or add to your position. As always keep your stops intact and obey your risk tolerance levels.
GLD is a heartbeat away from surpassing its old highs of 153.61. Silver should get dragged up higher and potentially outpace gold should gold move higher from here.
For disclosure purposes, we hold positions in DGP and AGQ.
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