Gold has now joined the party of silver and is breaking down this morning. After holding support for the last couple of days, gold is under pressure this morning. The big question here, is this the final blow off down or just the beginning of a much bigger sell off?

We do not predict markets into the future. We trade the patterns we have in front of us, looking at support and resistance levels one at a time. As you know we have been short all metals since the beginning of August and have been paid off handsomely.

With gold and silver breaking down, platinum is next. A close in platinum at 860 January futures or lower would signify a breakdown there as well. As our algorithm remains short, we do not predict markets. We play the mathematical edges that are built by the algorithm.

For now, it is down they go, key support now in gold 1850 December futures, $23 December silver, and 825 January platinum. In other words, we are short and staying short until it is time to buy.

Todd Horwitz Chief Strategist
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