Saturday, December 29, 2012

The Past, Present & Future

The Past: As we remarked last week, the silver:gold ratio's precipitous decline was favoring near term equity market weakness. 
Present: While the silver:gold ratio treaded water this week, the large divergence with the equity markets narrowed in form and proportion. 
 & Future: Considering that we are currently working from the perspective that the near term decline in silver is roughly only halfway completed, considerable downside risks remain - both for the equity and commodity markets.