New buy signal for broad markets

Tomorrow I will take a position again in AUY.



Today I issued a new buy signal for the $INDU and broad market averages. Well what do you know? Yup another whipsaw. A Hindenberg warning was registered 2 days ago but surprising strength was seen today. Even though my indicators say buy I am going to wait for confirming signals on a weekly close before buying again. The $HUI Gold Bug Index was up sharply today signalling the start of a new bull run for the precious metal stocks. Use a close below 937 gold for an exit if this trade goes against us. FCX (our leading indicator) is pointing to new highs soon for precious metals in '08.