Manuel Blay's  Instablog

Manuel Blay
Send Message
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 8: Stocks Close Up But Fail To Make Higher Highs  0 comments
    Apr 8, 2013 7:59 PM | about stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL

    Precious metals meandering

    Finally, I have been able to post today my Dow Theory Commentary, albeit a short one.


    The SPY, Industrials and Transports closed up. However, neither index managed to better the last recorded closing highs (04/02/2013).

    Today's volume was notoriously lower than yesterday's, which make it, once again, a bearish volume day. This is the fourth bearish volume day in a row.

    Gold and silver

    Last Friday, GLD's inventory declined again. Either it disintegrates through bleeding or gold is poised for an advance. However, as readers of this Dow Theory blog are well aware, even the best "laid out" fundamental idea must be supported by price action. Thus, I wait for the primary trend of gold to turn bullish.

    GLD and SLV closed modestly down. The primary and secondary trend remains bearish.

    As to the gold and silver miners ETFs both closed down today. The primary and secondary trend remains bearish.


    The Dow Theorist

    Stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL
Back To Manuel Blay's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.