Gold and silver: it's the bulls turn
The bulls have finallytaken back control of Gold, Silver and Platinum. All three have now managed toreverse the trend after their prolonged downtrend. We have seen them breakabove the resistance levels we wrote about last week, now we look to buy thedips.
The trends are nowhigher, which makes us double long. We always own physical and now long thefutures. No one knows how long this trend will last, but we don 't try to time markets. Weuse our algorithm for all decisions. When trading, all emotions and opinionsmust be removed.
Everyone asks how highthey can go. The answer is simple. I have no idea. We all know that they willmake new highs someday, but for now, Gold must close above $1,830 DecemberFutures, Silver $24 December Futures and Platinum $1,040 January Futures. Themetals must break through those levels and then hold those levels as support.
As the manipulators takea rest, we are now long Gold, Silver and would be long Platinum if we tradedit. However, I do own physical. Remember, all markets will follow the path ofleast resistance. For now, that is higher.
In all markets, priceaction determines what will happen in the next day, week or months. Keep thetwo strategies separate. The worst trade anyone can make is turning a tradeinto an investment hoping for a way out. Traders must learn to take theirlosses and move on to the next trade.
Patience, discipline, andmoney management always win the day. Let the map of the markets show you theway.
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MondayCall Registration October 18th 4:30 EDT
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