Wednesday May 10, 6:01 am EST. Just doing some of my regular diligence, I see that the conditions I noted one month ago have reversed. Middle of the third week of April, I was saying that risk in stocks was measuring low, while the risk I was measuring in precious metals and their miners was high. As of today, I am registering the very opposite. I am measuring risk as being high in stocks, and is now low in the metals and miners.
I’m thinking that there might be kind of a bit of a reversal of fortunes, as I expect that the metals may once again shine soon, and that stocks are in need of cooling off, taking a breather, and perhaps come back a bit.
Of course, all this remains to be seen, but my old OEXpert 7 Timer seems to do such a tremendous job of making these calls, but especially calling stock market bottoms, for which it was created… so, with that last thought in mind. It’s not the best stock top-caller, nor is it the best gold and silver bottoming caller… but it is saying risk in stocks is high, and risk in metals is low. By making both calls simultaneously, perhaps its accuracy is greater? Let’s watch and we will see!