Pitfalls 11-6-2011

Pitfalls and landmines are what traders are looking at these days.  The headwinds can change at a moments notice with information out of Europe, the banking community or even the demonstrators.  The Fed left things pretty much as is for now, but there are rumblings of QE3 around the corner.  There are also talks of attacks on Iran from, you take your pick, Israel, The UK, The US or any combination with Germany and France.  Just your normal trading day.
The DOW, S & P 100 and the NASDAQ 100 all moved lower last week.
We have liked gold and silver for a long time now and the charts are starting to look good for them again.  Gold was up a little last week and silver was down over 3%.  Here are the charts for gold and silver.

You can see both charts show a W formation with the last part of it much higher.  This is usually a very bullish sign.  It may be time to start accumulating both metals now.  Here is a list of the stocks we think are the best buys right now for gold and silver.  Gold first in order of preference.
1. NG
2. IAG
3. NGD
4. AEM
Now silver
1. EXK
2. AG
3. SLW
4. HL
Here are the charts for our top gold and silver stocks.  NG & EXK