Dear Member,
Just a quick update here: We’ve seen nice moves back down in gold and silver this morning. As I pen this issue, gold is down nearly $30, silver nearly a buck. I’m thrilled we were able to get back in the precious metals with light bearish positions yesterday.
It’s too soon to say, but today’s action is constructive on two fronts. First, it shows that the up move caused by Wednesday’s Fed announcement is not as sustainable as the bulls would like.
Second, it shows that the precious metals are still heavily under the influence of the cycles I’ve been telling you about, which point to a low later this month.
I’m watching the metals very closely, so stay tuned.
Also, I’ve read more of your emails today, and answered as many as I could. Be sure to be aggressive with your broker: You deserve better fills from Wednesday’s unfortunate market moves.
Yesterday, you should have also been stopped out of your shares in DZZ with a tiny gain. You should not have had any issues with the fill on that stop.
I am continuing to refine my models to account for additional volatility going forward, and for other strategies to protect your money in the event of adverse moves.
Best wishes,
Larry
Position Tracker
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