Gold and Silver stocks continue their slide. I find it useful to look at the charts for underlying metals as well as the stock charts. It is tempting to cash in small profits on puts on AU and PAAS, but I think more downside is coming.
Bulls remain defiant, daily price swing remain volatile.
The rest of the market looks dull. I continue to watch TM (Toyota) and EWJ (Japan ETF) to go long. TM reported great earnings a few days ago. The troubles at GM (General Motors) and F (Ford) can only help TM. Japan is recovering from a 17 year long bear market. The first bull recovery is usually not the best one, but it has been a sharp one, with a 40% gain in 2005. There is more upside there, but right now is not the best entry.
Earnings season looks to be over.
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