Today
Notice how gold and silver are setting up for the usual “Wednesday Wackdown”.(used to be Tuesday takedown but once everybody caught on it has been Wednesday for at least the last few months.) Right around 8AM or so when the Comex floor session begins prices should peak out and begin the decline. What I believe is happening is that by rallying first(which usually sets things up) silver especially, is unlikely to reach last weeks lows. It has rallied since I called last Thursday to take positions before last weekend. We did not get the crisis over the weekend I thought might occur but it was still prudent to take a partial position just in case. If we don’t take out last week’s lows, additional positions should be layered in on any pullback.
With Gold we have The
Monday Meltdown
Tuesday Thumping
Wednesday Whack
Thursday Thumping
Friday Flameout
Saturday and Sunday are fine though
So far so good. Pullback started a little after 8AM as suggested. If we dip some more without getting near last week’s lows I will be adding Today!
PS: Meant to mention that the stock market, which has sold off since I said last week it would be wise to lighten up on non miner stock positions, is giving you a one day bounce to sell some more and put on short positions as well. It is time for the phase where stocks drop and precious metals rise.