News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
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US Bans American Banks from Purchasing Russian Sovereign Debt
US Bans American Banks from Purchasing Russian Sovereign Debt
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*** GOLD MARKET WIRE ***
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Silver Market Update

Silver Shredding Continues

November 23, 2021 - (Gold Market Wire) - Our length from around 24.00 in Silver has been stopped out within a few hours. Such is the nature of the drop. Our main trendline has now failed, and we are out of the market, though still holding core positions from below.

No doubt a losing trade. Our idea to buy the intermediate trend line was simply too aggressive. The metals are being properly sold. The lesson? Firstly, although we tried to rely on the trend line, we ended up in the proverbial "catch a falling knife" scenario, and got stabbed. Usually we are disciplined at letting the market clear, settling down, and then waiting for a trend move to try and re-establish length. This time, the trend line took us down. We anticipated it holding ' that was error Number One. Error Number Two was not waiting for the market to clear. In short, both errors were a result of "ignoring the discipline", when we believed we were maintaining it by buying the trend line. Wrong.

The stop just below had us cutting rather quickly, and that prevented a poor decision from turning into a significant loss. That discipline worked. We ate 25 - odd cents quickly on the down side before the cut. The 23.50 level has held intra-day, so those .50 cent levels have validity still. The US Dollar is still raging, and we can`t see that abating anytime soon. Our length in the Dollar has protected us well. We doubt we will be shedding it anytime soon.

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