SILVER TRADE ALERT (3:45 pm EDT)
The Fed's decision to delay an interest rate hike triggered a drop in the U.S. dollar and a rise in gold and silver prices which pushed silver above our stop loss at $15. The spot price of silver seems to be closing well above $15. My stop losses were triggered so I am now on the sidelines. More daring traders who set higher stop losses may wish to hold their short positions as we are now on the lookout for a top in this surge to again sell short silver and gold as long as directional momentum remains bearish in these metals. That top could come any time between now and the end of next week. Covered (unloaded) my short position in silver today.
I will comment later this evening on the Fed decision and its effect on the markets.
The Fed's decision to delay an interest rate hike triggered a drop in the U.S. dollar and a rise in gold and silver prices which pushed silver above our stop loss at $15. The spot price of silver seems to be closing well above $15. My stop losses were triggered so I am now on the sidelines. More daring traders who set higher stop losses may wish to hold their short positions as we are now on the lookout for a top in this surge to again sell short silver and gold as long as directional momentum remains bearish in these metals. That top could come any time between now and the end of next week. Covered (unloaded) my short position in silver today.
I will comment later this evening on the Fed decision and its effect on the markets.
RSS Feed