Market Wrap Week Ending 8/1/08

by Douglas V. Gnazzo, Honey Money Report | August 4, 2008

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The following charts are from this week’s complete market wrap, which can be viewed in full by clicking on the link to the Honest Money Gold & Silver Report website listed at the bottom of the page.

The Hui has been here before: been there, seen that, done that.

The trend is your friend. If you are feeling down about the recent action in the gold stocks, take a look at the big picture with this chart.

GDX is testing support. Some minor positive divergences are beginning to appear. Signals are still mixed, however. For a complete analysis visit the full market wrap on our website.

Good luck. Good trading. Good health, and that’s a wrap

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Copyright © 2008 Douglas V. Gnazzo
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About the author: Douglas V. Gnazzo writes for numerous websites and his work appears both here and abroad. Just recently he was honored by being chosen as a Foundation Scholar for the Foundation for the Advancement of Monetary Education (FAME).

Disclaimer: The contents of this article represent the opinions of Douglas V. Gnazzo. Nothing contained herein is intended as investment advice or recommendations for specific investment decisions, and you should not rely on it as such. Douglas V. Gnazzo is not a registered investment advisor. Information and analysis above are derived from sources and using methods believed to be reliable, but Douglas. V. Gnazzo cannot accept responsibility for any trading losses you may incur as a result of your reliance on this analysis and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities. Do your own due diligence regarding personal investment decisions. This article may contain information that is confidential and/or protected by law. The purpose of this article is intended to be used as an educational discussion of the issues involved. Douglas V. Gnazzo is not a lawyer or a legal scholar. Information and analysis derived from the quoted sources are believed to be reliable and are offered in good faith. Only a highly trained and certified and registered legal professional should be regarded as an authority on the issues involved; and all those seeking such an authoritative opinion should do their own due diligence and seek out the advice of a legal professional. Lastly Douglas V. Gnazzo believes that The United States of America is the greatest country on Earth, but that it can yet become greater. This article is written to help facilitate that greater becoming. God Bless America.

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Douglas V. Gnazzo | Honest Money Gold & Silver Report, LLC
Canton Center, CT USA | Email | Website

The opinions of FSU contributors do not necessarily reflect those of Financial Sense.