While we continue to be short Gold and Silver, there are concerns with the churning markets. When markets start to consolidate, they are indicating a much bigger move on the horizon. The trend is lower, and the move could certainly be down, but the picture is not as clear.
We are now in a waiting game; this is a time to be passive. We hold short positions in Gold and Silver but will not add to those under the current price action. We would expect a big move in either direction, at this point down is the direction but too tough to call.
There are big differences between trading and investing: traders are involved daily while investors should sit back without care for daily swings. Trading is about following the trend based on the time frame you want to trade, investing is building over time.
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
Stop being a prophet and make profits
Watch us turns Monday into Saturday this week, the Monday night strategy call will be this Saturday July 24th at Noon EDT. The call is with Andy Hecht register below.