Just a short note to notify you that our Extreme and Extreme #2 indicators have flashed signals based on yesterday's closing prices. This is in tune with what we wrote a few days ago. Quoting from the Oct 16th, 2012 Market Alert:

Regarding yesterday’s message about the recent developments in the SP Indicators - it seems that we will have another signal coming from our Extreme indicators shortly as they don't tend to stay above or below their signal lines for a long time. This would extend the "bottom is in" time that we mentioned yesterday for a few more days. We will keep you informed.

This is what happened and extending the "bottom is in" time here means the following (quoting from the Oct 15th, 2012 Market Alert):

The signal from the SP Extreme indicator suggests that a rally in gold stocks will start in 4 days and the SP Extreme #2 indicator suggests that the rally in mining stocks will start tomorrow, but that it won't really pick up until the 4th day after the signal was flashed.

So, again, we should be prepared for closing the short position and perhaps going long soon - probably no later than on Tuesday. Consequently, if these signals are not invalidated by some bearish developments we will most likely suggest closing short positions no later than on Tuesday.

No changes in speculative or long-term investments are required at this time.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA