The torture chamber is still open with gold, silver, and platinum, stuck in consolidation churning back-and-forth in a range. There is no doubt that they will break out in one direction or the other, the only question is when.
With all the news about the economy, the dollar, and Fed intervention, one would think that they can only go higher. However, if you understand price action, the probabilities are that information is already priced into the markets.
Too many people try trade on the news when that news is already old by the time it hits the newswires. The key to all markets is watching the price action, that will always give you the best indication and what should happen next.
We are still short across the board, with very to find price levels to watch. December gold is 1925 to 1975 within that range, we will be short. Silvers range is 26 to 28 December futures and platinum 900 to 975 January futures. We do not guarantee that we will be right, but as of now price action suggests lower.
Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits
On Saturday September 12th we presented our Equity Portfolio models. Here is the recording from the event: