This post was just published on ZYX Short Sell Change Alert. Consider staying short on silver ETF SLV and silver miner SLW. Silver is trying to break the support a $33. (Equivalent in SLV is $32.10.) If silver closes below the support, then the support will become the resistance. We are seeing light selling by Smart Money
Traditionally gold has exhibited an inverse relationship with the U.S. dollar. In other words, if the dollar goes higher, gold goes lower and vise versa. Today gold and silver are breaking the inverse relationship with the dollar. The dollar is lower and gold has fallen to support at $1700. As
This post was just published on ZYX Buy Change Alert. In the momo crowd circles, the explanation being advanced for today’s drop in gold is that it is an erroneous trade that has caused the drop. So far we have seen no evidence of an erroneous trade and the probability is
Gold is getting hammered this morning. No obvious news. There is no corresponding move in currencies. Our algorithms show that yesterday afternoon Smart Money stepped in with selling to meet heavy buying by the momo crowd. This morning the momo crowd has continued to aggressively buy. Momo crowd’s aggressive buying is
This post was just published on ZYX Short Sell Change Alert Consider adding a 10% tranche in SLV in the zone of $32.88 to $33.10. Futures equivalent is $33.90 to $34.15. No stop for the time being as we are trying to build the position again.
The Reserve Bank of India (RBI) has banned banks from lending against gold. “…it is advised that no advances should be granted by banks for purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds (ETF) and units of
On the weekend President Obama made optimistic remarks in Bangkok about resolving the fiscal cliffs. If Obama is right, it will remove a major uncertainty from the world markets. The momo crowd has seized on the potential removal of uncertainty and has been aggressively buying gold since Obama’s remarks. Traditionally
This post was just published on ZYX Short Sell Change Alert Consider exiting a 15% tranche on SLV right here in the pre-market around $31.38. After this exit only a 10% tranche will be held.
This post was just published on ZYX Buy Change Serious gold and silver investors would want to take notice of Core Producer Price Index (PPI) released this morning. The reason Core PPI is considered one of the best indications of future inflation is that when producers are experiencing inflation, it ultimately
This post was just published on ZYX Short Sell Change Consider buying to cover a 15% tranche on SLV in the zone of $30.50 – 31.17. This will leave 25% of the full core position size. SLV is trading around $31.16 in the pre-market.