Just as we reversed our Gold position it got clobbered on Wednesday. Gold at the lows was down almost 50.00 at one point, closing down about 33.00 for the day. Obviously, we are not thrilled with the action, but at the same time we are not concerned.
Silver continues lower and we remain short. On Tuesday, Silver came awfully close to reversing to the long side, fortunately for us we stayed short. We never argue with the algorithm nor do we infuse our opinions into reversals and new trades. We will remain short Silver until the algorithm changes.
After peaking last Friday at 1093 January futures, Platinum has sold off about 7% this week. However, we remain long and see Platinum at support. What we see in Platinum is a natural pullback to a major support level and an opportunity to add to our long position.
The bottom line is news, opinions and outside noise have no place in the trading world. Trading must be automatic and based on the facts of whatever system you are using. Follow your plan and the rules that are included in the plan you are using. There are no exceptions to the rules.
Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits
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