This is just a quick note to let you know that we will probably be sending another alert later today (about 1 hour before the market’s close). Unless mining stocks reverse, we will probably open a speculative short position here as a move lower in mining stocks would mean an invalidation of an important breakout in the HUI Index, which would serve as an important bearish sign. Please note that silver moved very temporarily higher today (especially relative to gold) which is a bearish sign seen right before big declines. An invalidation of the breakout in the HUI Index could serve as a confirmation.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA
Founder, Editor-in-chief, Gold & Silver Fund Manager

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