This morning's price drop looks like a confirmation of support. Holding the long position for now...
As of right now, it looks like 16.00 is probable. PMs just don't seem too enthusiastic to go up right now
The area of $16.20 -16.40 is always a tough spot. I had a sell point yesterday thinking to hop off/hop on cheaper but missed by a hair. Still long.
Sold my new long position. While price keeps getting higher, silver keeps breaking through trading channel support. Maybe I can get cheaper prices tomorrow, though still not convinced I am fully bullish. Especially given this weakness in channel support
Yes, dang it the daily high keeps happening when I'm tied up and can't trade. A dip is due.
I think so as well. I'm getting my funds ready for the possibility of a short to $14.00
Just shorted CL at 1246.7 and will sell more above. Bessy looks overbought in the short term.
EDIT- Out for a buck. Thanks for playing you Central Bankers!
Sold a tranche of long at Ag=16.40
Hope it works out so you can change some Fiat* for some real money.
* Fiat- rusty old POS cars that break down and then collapse.
Nice trade happy. The support test I was expecting yesterday, happened today and 10 cents higher. I've got an ugly feeling this is the top for now, so I held off from trading today and perhaps tomorrow. I'll see where we are at on Monday...
16.445 with more sells above. Looks a tad overbough short term.
EDIT- Hit em again at .445
EDIT- Have sell in on GC at 1250 even.
EDIT- Hit the bid on more silver.
Covered the gold for a buck.
16.39 bid to cover the SI.
Selling more AG.
Selling gold at 51.1. <- More offered at 1252.10
Siver bid now 16.43 to cover.
Once again I thank those forces of evil for handing over their hard stolen gains!
... short term futures traders here?
I usually trade two or three days a week and have been sorta successful.
Just wonder if there is any interest.
PS- Sometimes when things are blowing up I become an "investor"!!
Looking for silver to close in the low $16.40s, and then we get a crash Sunday night/Monday morning, leading to my bearish scenario.
So we closed above a resistance area that I though was going to be top ($16.43ish) and I'm now wondering if we jump up another 25 cents to $16.75 before the correction...
On the weekly...
Here on the hourly we can see that silver held support all day. I was expecting support to break towards the end of the day, but it held. Perhaps that means that Monday is another green day (at least for the morning)?
Expecting to go short on Monday because we are due for a correction of some size.
Have a good weekend!
Hi Gold Dog haven't seen you in a while.
For the most part my trades happen on weekly or longer times. I will do 3-5 in a week if conditions are right.
I think it would be fair to say I've had a fairly odd day.
(That would be an example of "classic british understatement".)
Anyhoo... My father managed to leave his phone and ebook on a plane, and since there's literally nothing going on, muggins here volunteered to go get them...
(Abbreviated out of pity for the audience.)
So, through some quite convoluted quirk of fate I find myself listening to this...
(Obviously Delingpole's awesome but one gets behind...)
And watching this...
Starting to believe that I may have been seriously mislead...
Somewhere along the way I got cross!
(I heard rumblings but just figured everyone had gone off the deep end again, but apparently not this time...?)
So that's that really, I guess....
Back to reading Gramsci, Adorno and Haberwhatsit, trying to stay ahead of the curve, lolz.
Almost forgot... Soz.
(For those that don't feel inclined to read the prison notebooks etc.)
Sorry Gold Dog, feel quite rude...