MLR - Whipsaw city
The fed may not give the markets QE3 immediately but a form of QE is coming from Europe as European central banks continue to print money to rescue the PIIGS (Portugal, Ireland, Italy, Greece, Spain). Greece was the first, but the others could very well be next.
With the end of QE2 right around the corner, debate as to whether this is good or bad for the markets in the long run will rage on, thus could translate into choppy market action. While it would be easy to just stay out of the market completely, the market lives to surprise and a new trend often emerges when the majority least expect it, so it is worth staying vigilant and watchful for clues left by leading stocks and major indices.
For those holding silver and gold ETFs, we are using a violation of the 50-day moving average on GLD as our sell signal for all silver and gold ETFs.
This information is provided by Virtue of Selfish Investing, LLC (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2016 Virtue of Selfish Investing, LLC. All rights reserved.