Tuesday saw some interesting action in Gold, Silver and Platinum. Just when it looked like we were setting up for a trend change they all sold off late. Silver was lower on the on the day.
Today we could be saying here we go again, Gold, Silver and Platinum are charging higher once again. However, this is why we do not react during the trading day – too much emotion. This action is especially true when markets are thin and slow.
We will be short until at least tomorrow, if the metals reverse again like yesterday there will be no change. Remember, we are trend traders and only trade the math from our algorithm. There is zero opinion in our positions.
As an investment you can always buy Gold, Silver or Platinum with money earmarked for long term capital. If you want to trade, use the paper futures, ETF’s and stocks. Investors should be buying physical and never confusing and investment with a trade.
Patience, discipline, and money management always win the day.
Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits
Recording for Monday Night’s Strategy Call July 5th with Andy Hecht below.