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 ....
***
US Bans American Banks from Purchasing Russian Sovereign Debt
US Bans American Banks from Purchasing Russian Sovereign Debt
***
*** GOLD MARKET WIRE ***
*** GOLD MARKET WIRE ***
***
Subscribe to receive our market report service:
Market Info
Feature coming soon.
Thank you for your patience

Gold Market Wire

News, analysis and commentary for gold traders and investors

Silver Market Update

Silver's New Channel

November 3, 2021 - (Gold Market Wire) - Yesterday's decision to cut was the right one, as once again we are made to duck and dive in the trading arena to avoid the swinging hatchet of Silver market volatility. We ended up (following the discipline, yes) cutting around $23.85, as advised, and within a few tradeable minutes were down around $23.40. Silver keeps you nimble - that's for sure. It's enough to make you long for the stability of boring old Gold.

The fact that Gold barely budged is something we take serious note of. This wasn't a metals sell-off, it was a Silver sell-off. In other words, a tree-shaking exercise. Just the kind, tailor made, to demoralize you, and make you throw in the towel. But now, as we see the chart developments, which have painted the new picture, we are returning the trading length that we just shed and re-establishing the length we cut yesterday.

What's not to like? We've gotten back in a full 30 cents lower, which makes a better position overall. Our reasoning is clear from the chart:

channel bottom?

Now that we've done the 'duck and dive', we are donning our (slightly) contrarian hat in the belief that we are reaching a channel bottom. Yes, we could reach down to $23.00 again, but we're willing to believe that the sell-off we've seen was nothing more than the Silver pit scaring everyone away. It's fine to sell out when trouble arises - we're big fans of survival trading when it comes to Silver, but we won't be scared out of the position. It was a classic short-raid. We think the raiders have expended their energy.

It's time to re-establish yesterday's length, at a better level.

(side note: the Republican victory in Virginia carries some significance for our market. The shift to a Republican Governorship in this "government" area of the USA portends real trouble for the Democrats. That tells us that people are getting fed up with the Biden admins. agenda. From schools and parents to Covid. That implies a real loss of confidence in government per se - which is what the metals thrive on.)

It's nice to know they tried -though. Can anyone believe the lack of predictive power the professional pollsters have become in America. It's getting to be a farce...which is just more fuel for the Metals.

real 'clear'??? ... more like 'really suspect'

< Previous articleHome pageNext article >
<- Go Back