We've received several letters (thank you) in which we were asked to provide a quick comment on the current market situation. Specifically, we were asked to explain if this is a good moment to close the speculative long positions that we mentioned opening on March 17th, or should the size of this position be increased.

In short, it's too early to say. The situation looks bullish, but we prefer to wait for the breakout to materialize before suggesting adding to your speculative long positions. At this moment it appears more likely than not that we will finally see the breakout very soon. Precious metals are at their recent highs but they are not really making headlines, which we view as a green light for further gains. Still, until the breakout is seen and verified, the risk/reward ratio will continue to suggest having only a small speculative long position.

Summing up, we don't think that any action is necessary at this point.

As always, we will let you know should anything change.

Thank you for using the Premium Service.

Sincerely,
Przemyslaw Radomski