AFTER THE LABOR DAY WEEKEND

Friday closed at around the best levels of the day. The S&P 500 remains technically okay, although the move higher on lighter volume following the bigger volume move lower could be a warning sign.

But the larger picture will be the G-20 meetings, including who holds the positions of leadership and the chatter around the continuation of the US dollar as the world’s reserve currency. There is a lot that can impact currencies, a lot that can impact the US dollar. That's all important.

Over the really, really long-term, we like silver and gold. But talking “now,” we have believed it prudent to incrementally take profits along the way up. In the markets, remember, once again, that the trend is your friend until it is not. And there always comes a time when the wind shifts the other way.

We believe that over the really, really long term, gold will go higher – but this is looking way ahead. And we believe that crude oil will go higher too.

But what is critical is “now” – making the right moves now to increase profits and to hang on to those profits. So we watch the winds and make small moves accordingly. Even if we believe in "higher" way down the road, there is time between now and then -- and market can go considerly lower before it goes higher again. There are the yellow warning flags that must be watched -- so we want to make the right moves now to be in a better position for some time down the road.