It Was Short and Shallow
We believe that the correction in the precious metals related stocks in now close to an end, which is apparent on the chart below. It also appears that the broad market is going to stage a rebound as evidenced by the fact that the "smart money" is starting to go long. Many sentiment indicators are flashing green as well.
For gold, we think that the correction is also basically over and downside is limited at $777.
We are continuing to accumulate our favorite Exploration I and II companies and reduce cash positions.
This is an excerpt from a flash update posted by Resource Stock Guide on November 18th.