This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Mixed Metal Moves Mean We'll Make Money When Proper Setups Arrive

NEW YORK (TheStreet) -- Weakness dominated markets this past week, and many stocks followed.

The summer of consolidation continues, with some weakness thrown in for good measure. I still don't think this correction will be very deep. Rather, it will just put in the low of this base that is forming and is set to complete in early fall before we breakout and run into the end of the year.

Read More: Retrophin CEO Under Fire for Twitter Faux Pas

We will make our money this year, we just have to wait for the proper setups.

Gold had a strong week while silver didn't. I talked about silver taking the lead between gold and silver and I still think that is the case.

I don't think this recent strength in gold will last since it is on news and silver is not following at all. As always, I can be wrong, but I'm right more often than not and I think I will soon be proven right in this case as well.

Let's move right into the charts and see what I'm seeing in the precious metals this week before I dive into  more charts of specific stocks and markets.

Read More: European, Asian Stocks Shrug Off Gloom

Gold rose 1.22% this past week on news and not much else. We've seen some awesome moves higher recently, which also was news driven and it didn't take long for those to fail and I'm expecting the same for gold in the days ahead.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $132.65 1.82%
FB $81.91 0.47%
GOOG $555.37 -1.71%
TSLA $231.55 6.01%
YHOO $44.36 -0.36%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs