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Monday is a holiday, so there will be no letter this weekend.
Despite today's kneejerk reaction, today's stronger jobs data in no way will affect the Fed's decision on interest rates. That will be determined solely off of next Friday's CPI, which if I had to guess will have a little something for everyone in order that the following Wed's meeting is left at a coin toss. Ultimately though, I don't think they Fed will move ahead of the midterm elections.
I doubled my GDXU and AGQ into today's pullback, and you will note that gold, silver, and the GDX all closed well above the 5 dma once, which leaves the bulls firmly in charge.
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Disclaimer: Lance
Lewis periodically publishes columns expressing his personal views
regarding particular securities, securities market conditions, and
personal and institutional investing in general, as well as related
subjects.
Mr. Lewis is the president of Lewis Capital, which is a registered
investment advisory firm in Dallas, Texas. The firm regularly buys,
sells, or holds securities that are the subject of Mr. Lewis’
columns, or options with respect to those securities, and regularly
holds positions in such securities or options as of the date those
columns are published. The views and opinions expressed in Mr. Lewis'
columns are not intended to constitute a description of the securities
bought, sold, or held by the firm in its capacity as an advisor.
The views and opinions expressed in Mr. Lewis' columns are also
not an indication of any intention to buy, sell, or hold any security
on behalf of the advisor’s clients, and investment decisions
made on behalf of clients may change at any time and for any reason.
Mr. Lewis' columns are not intended to constitute investment advice
or a recommendation to buy, sell, or hold any security.
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