http://tfmetalsreport.blogspot.com/
All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.
TUESDAY, APRIL 26, 2011
The Fastest 10% Ever
How's that for craziness? That was an almost 12% drop in silver in less than 24 hours!!
Just a quick note as I will be driving home from Mr. Hyde's this morning. Notice a couple of things:
1) Gold hung in there very well and is back above $1500. Considerably less volatile. If you want to be in the metals but can't stand days like yesterday, gold is a lot easier to stomach.
2) The POSX still looks awful.
3) The "press conference" of The Ben Bernank tomorrow will likely, at some point today, give the POSX a bid and cause the PMs to roll over and move back down toward last nights lows. I doubt they'll make it but they'll surely see some weakness.
What I'd really like to see in silver now would be a dip back down to the lows of yesterday morning. It would be on a very short-term chart but you could then make the case of a head-and-shoulder bottom to this very short correction. With that in mind and considering the pattern that led us to expect the correction in the first place, I'll be looking to buy this morning IF silver can get pushed back down toward 45.50.
More later. Keep the faith and have fun!! TF
Just a quick note as I will be driving home from Mr. Hyde's this morning. Notice a couple of things:
1) Gold hung in there very well and is back above $1500. Considerably less volatile. If you want to be in the metals but can't stand days like yesterday, gold is a lot easier to stomach.
2) The POSX still looks awful.
3) The "press conference" of The Ben Bernank tomorrow will likely, at some point today, give the POSX a bid and cause the PMs to roll over and move back down toward last nights lows. I doubt they'll make it but they'll surely see some weakness.
What I'd really like to see in silver now would be a dip back down to the lows of yesterday morning. It would be on a very short-term chart but you could then make the case of a head-and-shoulder bottom to this very short correction. With that in mind and considering the pattern that led us to expect the correction in the first place, I'll be looking to buy this morning IF silver can get pushed back down toward 45.50.
More later. Keep the faith and have fun!! TF
All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.
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