Although gold and silver closed higher on Thursday, their overall stock was down, which is consistent with the current trend. The fact that both failed at crucial resistance levels suggests that lower prices are ahead. The trends have been confirmed once again and we are willing to increase our current short selling positions.
Gold and silver are in similar formations and both are in downtrend. There is no doubt that someday they will enter an upward trend, but we continue with the current trend until it changes. We do not sell earplugs or buy funds. We try to get the meat out of the movements. As investors, we are always buying metals through physical markets.
Many think that markets are manipulated and directed by the FED. Let’s say it is true; price action and footprint have yet to appear in the trend of some kind. The map that the footprint leaves is the same, be it the real free market or the manipulated market. We know that the FED is out of control and has destroyed the truly free market price discovery market. However, the price action creates a price discovery.
To quote my grandmother, who loved to bet on the Horses of Harnesses that we always thought were fixed. She made a comment: I can bet on the crooked horse!
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