Gold and silver up.
Jon Strebler of the Dow Theory Letters nails it.
A couple of days ago, Jon Strebler, Russell’s associate in the Dow Theory Letters, nailed it. He advocated for minimalism in investing. The less noise, the less information, which mostly is random, the better. The bottom line for him is the charts. In his own words: “Are the charts bullish or are they bearish? Is the market going up, or is it going down? That’s all that matters” (emphasis supplied by Strebler).
However, to be a real “minimalist” takes time and experience.
Stocks
The SPY and Industrials closed down. The Transports closed up. The primary and secondary trend is bullish.
Today’s volume was lower than yesterday’s, which is bullish. As declining prices were not met by expanding volume.
Gold and silver
GLD and SLV closed up. The primary and secondary trend is bearish.
GDX and SIL, the gold and silver miners ETFs closed up. The primary and secondary trend is bearish.
Here you have the figures of the markets I monitor for today.
| Data for May 23, 2013 | |||
| DOW THEORY PRIMARY TREND MONITOR SPY | |||
| SPY | |||
| Bull market started | 11/15/2012 | 135.7 | |
| Bull market signaled | 01/02/2013 | 146.06 | |
| Last close | 05/23/2013 | 165.45 | |
| Current stop level: Bear mkt low | 135.7 | ||
| Unrlzd gain % | Tot advance since start bull mkt | Max Pot Loss % | |
| 13.28% | 21.92% | 7.63% | |
| Alternative Schannep’s stoploss: | |||
| Highest closing high | 05/21/2013 | 167.17 | |
| 16% stoploss from highest closing high | 140.42 | ||
| Max Pot Loss % | |||
| -3.86% | |||
| DOW THEORY PRIMARY TREND MONITOR GOLD (GLD) | |||
| GLD | |||
| Bull market started | 05/16/2012 | 149.46 | |
| Bull market signaled | 08/22/2012 | 160.54 | |
| Exit December 20 | 12/20/2012 | 161.16 | |
| Current stop level: Sec React low | 11/02/2012 | 162.6 | |
| Realized Loss % | Tot advance since start bull mkt | ||
| 0.39% | 7.83% | ||
| DOW THEORY PRIMARY TREND MONITOR SILVER (SLV) | |||
| SLV | |||
| Bull market started | 06/28/2012 | 25.63 | |
| Bull market signaled | 08/22/2012 | 28.92 | |
| Exit December 20 | 12/20/2012 | 29 | |
| Current stop level: Sec React low | 11/02/2012 | 29.95 | |
| Realized gain % | Tot advance since start bull mkt | ||
| 0.28% | 13.15% | ||
| DOW THEORY PRIMARY TREND MONITOR ETF SIL | |||
| SIL | |||
| Bull market started | 07/24/2012 | 17.08 | |
| Bull market signaled | 09/04/2012 | 21.83 | |
| Exit January 23 | 01/24/2013 | 21.69 | |
| Current stop level: Sec React low | 11/15/2012 | 21.87 | |
| Realized Loss % | Tot advance since start bull mkt | Max Pot Loss % | |
| -0.64% | 26.99% | 27.81% | |
| DOW THEORY PRIMARY TREND MONITOR ETF GDX | |||
| GDX | |||
| Bull market started | 05/16/2012 | 39.56 | |
| Bull market signaled | 09/04/2012 | 47.77 | |
| Exit January 23 | 01/24/2013 | 44.56 | |
| Current stop level: Sec React low | 12/05/2012 | 45.35 | |
| Realized Loss % | Tot advance since start bull mkt | Max Pot Loss % | |
| -6.72% | 12.64% | 20.75% | |
Sincerely,
The Dow Theorist.
