A First Draft of a Shopping List

I can't say I really missed this afternoon's trading by missing the afternoon. It certainly didn't look like much fun, and for those who faded the initial move, it likely was painful without a tight stop or a quick trigger finger. Get ready to hear some folks talk about getting your shopping list out, but I would wait until I see equities lose 5% off the top before getting out my shopping list.

I will say that I would love to see some miners get absolutely hammered here. The SPDR Gold Trust (GLD) is right near my watch level. Depending on how you draw your trendlines, it can be easy to argue support was broken today. Still, I would want to see two days close here at or below $128. Obviously, I will be watching for the push back up tomorrow, according to my post earlier, but I would much prefer to see a two- or three-day blowout sending GLD down into the very lows $120s. Then, if that happened, I would have my gold and silver miners shopping list in high gear....144 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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