Precious Metals have been moving lower and many of the previously
mentioned signals were flashed / target areas have been reached. Therefore,
given the recent volatility, it seems that you will find this Market Alert
valuable, even though it is not a "clear buy signal."

I've decided to send out this alert because silver, HUI Index, GDX ETF are
currently either in the target area for this downswing or trade very close
to it. Please note the following facts:

- the HUI Index has just touched its 200-day moving average,
- the GDX ETF has just touched its 200-day moving average,
- USD Index touched its 200-day moving average,
- the SLV ETF is currently in the $15.5 - $16.5 target area, and it is in
the "bottoming territory" according to the cyclical tendencies present on
this market,
- the GDX ETF has move VERY close to the lower border of the declining
trend channel and the price that stopped the decline in early October
2009,
- regular indicators (RSI, Stochastic) are about to flash buy signals for
many parts of the PM market,
- our unique indicators (available in the Premium Charts section) have
flashed buy/extreme signal
- the GDX:SPY ratio (used to measure outperformance of PM stocks relative
to other stocks) has reached a strong support level

The above factors suggest that the bottom is very close or has been
reached today. However, on the other hand, the USD Index did not reach its
target for this rally (80 level), and one should not ignore the fact that
the general stock market appears to be ready to plunge. Although the
correlation between the general stock market and the precious metals market
is NOT very high (we have numbers in the Correlation Matrix from our Tools
section to prove it), we would like to see additional confirmations of the
abovementioned tendency before clearly stating that there's nothing to
worry about as far as the plunge in the general stock market is concerned.

Summing up, this is not a "crystal clear buy alert", but if you have a
strong aversion of "missing the boat", you may want to enter the precious
metals market with a part of your speculative holdings today, and wait for
additional signals with the rest of the capital. We believe that the
situation is not "symmetrical" in terms of the long/short positions on the
PM market, which means that while it is not clear if one should go long
here, it seems that having an open short position is no longer justified
from the risk/reward perspective. In other words, if I had a short position
in metals / PM stocks right now, I would close it. We may get lower from
here, but shorting an asset that is in a strong long-term bull market is
generally a very risky practice, and - in this case - it usually pays off
to take the capital off the table, at the slightest signs of strength.

It currently seems that the next several days will provide us with
critical details, and possibly a confirmation of the above comments (or
they will be invalidated.) I will comment on the situation more thoroughly
(and I'll explain what type of signals will confirm that the bottom is in)
in the next Premium Update (scheduled for tomorrow).

You received this e-mail as a no-obligation bonus (our Subscribers have
received it earlier today). If you wish to receive our Market Alerts in the
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Thank you for your interest in our services.

Sincerely,
Przemyslaw Radomski