Precious Metals Update

If you bought into precious metals in May (on the first crossover) or in June (on the second crossover), you probably aren't a happy camper, since the recent drop to the 6% BPI level -- its lowest ever on the available chart. Remember, however, that this is a long-term buy signal. Even though one can never tell how long we could stay in oversold territory, you might consider entering a position upon a reversal back to a column of Xs. To reiterate my observation below, "it's rebounded to above 60% every time, between THREE AND EIGHT MONTHS after the low."