The metals remain weak and of course the Gold bugs are calling manipulation, price fixing and other things. Markets may be manipulated of fixed, but the price action still dictates the direction. You must remember that it takes a buyer and a seller to create price; without it there is no market.
As we look at Gold, Silver and Platinum they are weak; it’s that simple. Those looking or forcing a reason to participate in these markets without the price action in their favor are just gambling and playing personal sentiment. Markets go and down for many reasons, but the participants with the strong hands will dictate direction.
For now, the trend is lower, every rally is met by sellers. Those nefarious market manipulators can’t control the price action as much as many believe. Some day the trend will be strong again and new highs will be made, but for now the selling should continue.
In all markets, price action determines what will happen in the next day, week or months. Keep the two strategies separate. The worst trade anyone can make is turning a trade into an investment hoping for a way out. Traders must learn to take their losses and move on to the next trade.
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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