Sunday, November 2, 2014

Full blown gold/silver crisatunity

This post is going to have a lot of charts because of the ongoing events in the gold and silver market.

What's interesting about these charts are that they are recovering from previous peaky, volatile chart patterns and are building large spikes again. It is unusual for spikes to be this large so long after the main spikes.

The miners look like an incredible shorting opportunity from here.

If we look at the inverted USLV chart it looks like the main spike could build one day or two higher but after that it should be topping out.

This is one of those rare occasions where I will commit most of my portfolio. If the fall continues for one more day or two I will keep adding to the trade by allocation a few reserve resources that are currently elsewhere and by increasing the amount of longs in 3X ETFs and decreasing the amount of shorts in the inverse 3X ETFs.

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