Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Monday, April 30, 2007

Monday Is Chart Day

Gold may have some more work to do before it heads higher. It's not a big deal -- it means the eventual breakout will likely be even bigger.

Silver is back to being more bullish than gold. That's actually a healthy sign. It shows people are more bullish on the global economy (silver is an industrial metal along with being a precious metal). When everyone piles into gold and ignores silver, like happened for a couple weeks recently, they're probably scared. When they buy silver even more than they buy gold, they're probably feeling bullish.

Something is brewing in oil beyond a failed terror attack in Saudi Arabia. These forces are big and fundamental.

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