Focusing on Gold Miners

The action is very choppy in the early going as dip-buyers stepped up on early weakness, but they aren't generating significant upside momentum. Breadth is running slightly negative with oil and chips leading. Steel, solar energy and regional banks are lagging. Financials are the biggest concern.

Precious metals are down slightly, but I'm watching that group closely as I believe the technical action has been promising. Silver miners are showing better relative strength than gold miners are and I am focusing on them. I've established a position in First Majestic Silver (AG), which is supposed to grow earnings 51% to $1.57 in 2012, and is selling with a trailing price-to-earnings ratio of just 21. Coeur d'Alene Mines (CDE) and Golden Minerals Co. (AUMN) are other silver plays that I like....86 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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