Just a quick note to say that, yesterday, some but stop orders were fired in the precious metals arena for GLD, SLV, SLW and GG.
It's an addition to already existing positions from near support areas that we have discussed in the past. A trailing stop will take care of them all.
I will try to a do a more detailed post later on. For now, I am still a skeptic who would like very much to be proven wrong about precious metals and their miners. PM bulls will tell us that we are going to the moon. PM bears will tell us that they are getting the tail end of the market bid as fund managers rotate into depressed industries in search of performance
All I can do is let trailing stops and some hedges/insurance take care of the business
This is a 60-minute chart of Silver futures with channels that have so far worked well.
There are two very opposing counts, and they bot are active.
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1 year ago