Who knows what will happen today, but on Friday gold and silver both closed above their 200-day moving averages. I don’t think today’s action is really important — BTW. What happens in any given day in a market rarely is. But sometimes something big happens — and that is what happened on Friday for gold and silver.

Gold and silver stocks had already broken through their 200-day moving averages a few days before, but gold’s move on Friday confirmed their price action and suggests that the mining stocks and the metals are starting new bull markets.

This is a big deal.

It will mean huge gains for those positioned right that hold over the next few years.

I left my house Friday morning to take a four hour drive to Washington DC and attend a conference.

As I was going down the road the price of gold and silver went up by the hour. It’s a good feeling to know that you are positioned in the markets right and can see big gains coming over the next few years.

I was listening to a tape by someone talking about Buddhist philosophies and how you should live each day as if it were going to be your last. He claimed that you should try to do something important or run every day and not taking anything too seriously.

My phone rang and I got some bad news.

A few years ago I I took the bulk of the money I had made in the stock market over the years and used it to become a partner in a chain of body repair shops. We have four of them. Someone called to tell me that one of them had the roof fall in on it due to snow. It will be closed for a month or two and it’s a mess.

But the news didn’t both me. It’s just one of those things you gotta deal with and move on.

One my friends is going blind. His doctors told him that he has some freak disease that only 100 people in the United States get a year and he will be blind in a few months.

That puts things in perspective.

When I got to the conference that evening I ended up eating dinner with a famous household name and some other people I have wanted to meet for some time. It was a great evening. But what a crazy day.

Over the weekend I met some leading Austrian economists who know more about the Federal Reserve and monetary policy than just about anyone on the planet. It made for some interesting talks.

I’m about to hit the road and drive back home. But before I leave let me post this video for you about what is happening in the stock market right now.

I think you’ll be interested to see what sectors are now leading the market and which ones are now doing poorly and are essentially in bear markets right now:

The structure of the stock market is slowly changing. But if you just look at the action in the DOW and Nasdaq indices you can’t really see that. Sector analysis tells the tale — and shows you what sectors you should be focused on if you want to really make money going forward.