NS: Gold, Silver, Oil, Nat Gas with a Technical Melt Down
What a week so far!
Everything is playing out exactly as we hoped and expected this week. We have been so close to a buy signal in gold and silver but Monday’s intraday observations saved us from a nasty trade.
Those of you in love with oil just had a Kiss Good Bye! Better PUT some love letters together J pardon the pun.
Natural Gas is all bottled up. Can you smell that?
Gold ETF Trading – Gold Bullion Price Action
As mentioned in the last couple reports we are currently waiting for a correction which will hopefully provides us with a low risk entry point. Since June we have been in a short term down trend, but the longer term trend is still up. Which is why we are looking for a buy signal and not a short. The past couple days we have seen gold and silver sell down.
Looks like big floor traders are “running the stops” which is when the majority of the public is trading all in one direction (up) and the floor traders manipulate prices to trigger peoples stop orders and shake them out of the trade before continuing in the direction of the overall longer trend. This is explained in my Trading Manual for exiting trades for maximum profits, avoiding the floor traders from running your stops and how to take advantage of it report. This will all be explained once I have that report completely written. It is the one thing most traders don’t know, yet is the most crucial knowledge to trade with.
Anyways, for gold and silver we could see more downside but until the selling dissipates we will wait.
HUI Index – Gold Stock Index
In short, on Monday when gold and silver moved higher on weak intraday price action, gold stocks moved lower telling me smart money was unloading before bullion tanks. This goes to show how much attention should be made when trading. I know so many people went long gold Monday only to take a beating every day since. This is what I like to avoid.
Silver ETF Trading – Silver Bullion Price Action
Silver is in the same boat at gold. Popped higher on Monday as novice traders get sucked in and spit out a day or two later. The worst part is that PM’s could and should reverse soon and move higher. This is what frustrates people immensely. The average trader is normally right but at the wrong time. Getting shaken out of a trade only to see it reverse and continue in the direction you were ready for.
