SILVER TRADE ALERT (2:15 pm EST)
The time has come for us to unload (cover) our silver short positions. Silver has corrected down close to the point where I first shorted it, and we will be able to cover these positions with very little or no loss. As I have been stating in recent blogs, there are technical signs that the precious metal markets are turning bullish, and yesterday this was reinforced further by a strong bullish momentum signal in the spot price chart of silver (but not yet gold). Although prices could move lower, there are technical and timing signals suggesting a bottom now. I am looking to go long in both metals and may do so any day now in conjunction with bullish technical indicators. Covering silver short positions today and now out of both gold and silver.
I am still out of the broad stock market and crude oil and am writing a market update on these now. I am posting this silver trade alert, however, for any active traders before the markets close. I apologize for the late post but my website editor has been malfunctioning today. Hopefully, this problem will be fixed soon.
The time has come for us to unload (cover) our silver short positions. Silver has corrected down close to the point where I first shorted it, and we will be able to cover these positions with very little or no loss. As I have been stating in recent blogs, there are technical signs that the precious metal markets are turning bullish, and yesterday this was reinforced further by a strong bullish momentum signal in the spot price chart of silver (but not yet gold). Although prices could move lower, there are technical and timing signals suggesting a bottom now. I am looking to go long in both metals and may do so any day now in conjunction with bullish technical indicators. Covering silver short positions today and now out of both gold and silver.
I am still out of the broad stock market and crude oil and am writing a market update on these now. I am posting this silver trade alert, however, for any active traders before the markets close. I apologize for the late post but my website editor has been malfunctioning today. Hopefully, this problem will be fixed soon.
RSS Feed