Silver Raid Imminent

Only for those who are trading paper Silver (long AGQ, 50%): Silver hit a high of 43.4 in the overnight session and has since sold off, right on cue. 


 I don't have any inside information or have any contacts at the comex (you know who I am talking about) but what I do know is TA and it tells me we are very overbought. 

And calling a top is the hardest thing to do, and tops develop over time and prices can keep climbing for months after you think they should have topped technically or what have you and no one ever plays the bull market in anything, perfectly. You do the best you can.

 What I see technically is that after each pullback the speed and angle of upward trajectory is becoming acute (sharp/steep), the weekly stochastics are very over bought (so what) that makes me worry. Anecdotally, Silver was on Yahoo finance front page last week (sign post) and a lot of people I know are getting giddy and asking questions about Silver (not Gold). So is the Silver bull over, absolutely not! 

But nothing goes straight up and as I wrote last week, the raids will come Monday to Wednesday morning, its been a trend. They get a whole mess of free paper (money), then make a plan on weekends; so be careful early in the week. I have explained how I survive the raids. Last week I got lucky and Bought ZSL and that protected my profits and I had been taking small amounts off the table on every ballistic move up, and I re-load on the way down. It has been perfectly played but pretty damn close so far.

Please note: this does not apply to any PM holders. If you have the metal just hold on to the ride of your life. Buy on any dip. 

This week: Target 45

Where to buy on the way down: 42.25, 41.5, and 40.5 (40.5 would be a healthy correction to stage a move to 50)

Looking to be fully long at 250, first pullback should take us to 270.