HELPING PHYSICIANS ATTAIN FINANCIAL SECURITY
By Robert M. Doroghazi, M.D., F.A.C.C.
In a precious metals bull market, silver tends to lead gold and the miners tend to lead bullion. The more speculative issues tend to out-perform.
This is exactly what has occurred over the last few weeks. I have made numerous references to Silver Wheaton (SLW) as representing a proxy for the market. Last week SLW lead the way; breaking out to a new high (see chart, next page).
Then this week, GDXJ (an ETF representing a basket of the “junior”, and thus more speculative, miners) broke to a new high (see chart, page 3).
Just today, SLV closed right at its recent high, with GDX (an ETF representing the biggest, least speculative miners) finishing at the highs for the day, and just below its recent highs (see chart, page 4). Gold (GLD) is not far behind (see chart, page 5).
This is really bullish action. Will SLV then GDX then GLD follow the others to new highs? Please watch them closely, because when GLD goes to new highs all of the precious metals complex could literally blast off.
Have a safe and happy Labor Day. We will be at our Lake Ozark condo.
RMD
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