The uninspiring rallies continue in Gold and Silver. They should have broken out to the upside, but they have not. The rallies the last three days have not instilled a lot of confidence with investors, failing each day to take out resistance.
We remain short but have concerns that these attempts to breakout to the upside may succeed soon although they have struggled to this point. This has been challenging for both traders and investors. Therefore, we constantly remind you that they are two different things, trading is short term and could last days, weeks or months. Investing is for the long-term, months to years.
The price action is consistent with these crappy conditions we are witnessing. Volume is light in all markets. Although we are short, we are passive, not looking to add to our positions currently. However, we have bought physical metals for our long term holds.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way.
Todd Horwitz Chief Strategist BubbaTrading.com
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