Gold in an up trend, silver in a downtrend both are miserable
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
For our regular readers, you know we trade with the trend of our proprietary algorithm but always accumulate physical, gold, silver, and platinum. The recent action in metals has been awful, making the trading tough. However, the lower prices make the accumulation of physical metals attractive.
Platinum has made new lows since the flash crash lows from a month ago. Although gold is in an uptrend, the pattern looks awful and is in danger of reversing the trend. Silver is in the same category, ugly. Therefore, price action is so important; many believe that metals should be higher, they are not.
There is no doubt that the future for all the metals is bright; however, a lot can happen between now and then. The importance of avoiding the news could be one of the most important decisions you can make. You must remember, news or those that can deliver it usually have an agenda for the way it is reported. Price action is all that matters.
In all markets, price action determines what will happen in the next day, week, or month. Keep the two strategies separate. The worst trade anyone can make is turning a trade into an investment hoping for a way out. Traders must learn to take their losses and move on to the next trade.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way.
On Monday Sept. 13 you are invited to our Monday Night Strategy Call. Start time is 4:30 EDT