Thursday, April 28, 2011

Metals Update

Gotta trade this white hot paper. Will take 10% off the table this am after the huge move yesterday. Would have sold 75% of it by the time we get to 52.
After the major sell-offs in both gold and silver we are back to business for now. Silver is up 40 cents or so this am and should hit 52 by next week. For now we have strong support at 45. I think we see 52 before we see 45 again. Not selling any physical Silver period.

In early march I pointed out that gold had printed an inverse HNS pattern  and that we should see a break out to 1520-1540. Well we printed 1526 yesterday and its on to 1540 by next week. No position in gold.





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