Running With Silver Futures

I have no idea why people insist on wearing footwear that’s should be easily visible to the naked eye all the way up at the International Space Station. “Oh look – there goes Bill again – he’s up early for his morning run today!” Whenever you think that attention whoring has reached its maximum peak the intrepid engineers at Nike go to work and prove you wrong yet once again. Well done! And I thought three stripes on my Adidas pants were a bit flashy…

So obviously the topic of the day are the silver futures, just not the ones you wear to blind pilots and cause airplane crashes near international airports. I’m seeing a dual entry opportunity which may not be immediately apparent. It’s tempting to go long here as silver seems to be packing for a trip towards 17 and higher.

Long near 16.2

However being the crusty old cynic that I am it would take a retest to 16.2 to get me excited about a long opportunity. For one because precious metals have a nasty habit to run a hare ahead of big directional moves, just to stick it to you guys and cause general mayhem.

Short near 16.8ish

Now if it manages to push higher and paint a Retest Variation Short (RTV) then I’d tempted to take out a small short position in expectation of yet another slap down as seen numerous times over the past few weeks.

We’re sticking with the futures theme today – next runner up is copper. Which is a long here or > 2.47 if you can grab it this low. Stop should be set below 2.45 – add a few more ticks if you manage to get in lower.

But I had to keep my most favorite symbol today for my subs – please meet me in the lair:

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