We were asked to comment on the market before its close today (as we could anticipate where the markets will close).

We can't tell if it's a good idea to close / limit the long-term positions right now. If any changes are to be made based on today's closing prices, for 95% they will be in the miners (only) and neither in gold nor silver as the latter are not below their critical long-term support levels.

At this point miners are pulling back up and there were many times when a lot of decisive action happened right before the end of the session. For instance, a move above 335 before the close would be a strong bullish signal - and it could still happen - HUI pulled back a few points in the past hour or so.

If you need to make a decision (in most cases you will not need to do it, but there are some specific cases when you can make investment decisions only once per day, for instance), then you could close half of your long-term position in the miners only if the HUI is below 325 as close to market's close as possible.

Again, the above comment is not for everyone, only for those (probably less than 5% of recipients of this message) who would not be able to make a transaction tomorrow morning. We will send another Market Alert before the market's open (most likely) or early in the day, but if you know in advance that you will not be able to act on it - use the above information to make the transaction today.

For this moment, we suggest remaining in the market with your long-term gold, silver, and mining stock investments. We also suggest remaining long with half of your speculative position in gold, silver and mining stocks - based on the signal from the SP Indicators.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA