There is one word for my position now in silver & it is confused. I went short at the fix yesterday which was @ 11.16 now silver is at 11.05. so far so good.
Now here is the confussion. My data doesn’t show that yesterday was a trading day therefore I need to remain short today. If I were to take into account yesterdays trading then I should be covering & going long this morning.
So here is what I’m going to do.
I am covering 1/2 of the short This will bring me down to 50% short. I do seee that the dollar is very strong this morning so this means that the metals are holding up rather well in face of this.
In the event that silver trades down to less then 10.79 at the fix then I’m actually going 50 %long at the fix.
Re: gut feel…
Beck - Tuesday at 9:01 AM
Something in my gut says we’ll see a dramatic reversal down in the DX and other markets next 24 hours
* Re: Silver…
tibbcat - Tuesday at 9:57 AM
possible downgrade of us credit worthyness by moodys.
* Re: Silver…
Isaac - Tuesday at 10:43 AM
Don’t really know much about these other things.
What I do know is that silver is looking weak.
The action is in gold, & silver is just tagging along.
If it stays this way then silver will be the better short if & when these predictions happen.
The dollar should be weak but the sterling & euro are really tanking as soon as people come up with an alternitive to the dollar it will fall & fall & fall.
The gold market is too small to really be considered.