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Manuel Blay
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Trader and investor. My trading is short-term based (avg trade duration 4-5 days). As investor I'm deeply influenced by Dow Theory
My blog:
Dow Theory Investment
  • Dow Theory Update For April 5: Gold And Silver Up Once Again  0 comments
    Apr 5, 2013 4:27 PM | about stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL
    Stocks weak in spite of closing rally


    Let's get started with our Dow Theory commentary in this blog.

    Bill Gross teaches us to be humble

    Bill Gross, of PIMCO fame, in his article "A man in the mirror", has made an exercise in humility. He concedes that most applauded gurus have enormously benefited by unusual secular tailwind. He thinks that a 40-year successful track record is no confirmation of "greatness" in the business of investing because unlimited credit expansion has lifted many boats.

    It is a sobering piece, which every investor should read. You can find Gross' article here.

    Stocks

    The SPY and Industrials closed down. The Transports closed up. The primary and secondary trend remains bullish.

    Today's volume was higher than yesterday. Since stock closed down it has a bearish connotation as declining prices were supported by expanding volume. This is the third bearish volume day in a row within an overall bearish volume picture as reported here.

    Gold and silver

    GLD inventory did not budge yesterday.

    GLD and SLV closed up. The primary and secondary trend remains bearish.

    GDX and SIL, the gold and silver miners ETFs closed down and up respectively.

    Sincerely,

    The Dow Theorist

    Themes: Dow Theory Stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL
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