With gold and silver near the $1,500 and $35 area respectively, the Godfather of newsletter writers Richard Russell had this to say, “GOLD -- The chart below shows daily gold over the last two years. During that period gold has respected its 150-day moving average, which is the blue line that you see on the chart. Over the last two years gold has tested its 150-day MA six times, and each time gold has held above the 150-day MA -- and then rallied to new highs.”
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/20_Richard_Russell_-_Silver_Shorts_Liable_to_Get_Trampled.html
I know this is a short post, but KWN doesn't want me posting the whole article. Queenbee.