And We Have Lift Off

I was in the midst of parsing for symbols just now when precious metals suddenly kicked into overdrive and quickly proceeded to push outside their respective trading ranges. Which of course is a very good thing as we happen to have grabbed a few seats on the bus just yesterday. After most of 2016 consisted of enduring one nerve wrecking sideways churn after another it’s really good to see some good ole’ fashioned trending action again. We had almost forgotten how it feels. Plus since the start of the new year we keep getting lucky with our entries. Let’s hope our streak continues for a little while longer

Here’s yesterday’s long entry in gold which I have an inkling many of you participated in, at least judging by all the chatter about miners I had to put up with lately. Clearly there’s been a lot of whipsaw as of late and a reversal could quickly bring us back from whence we came. However the breach of the daily NLBL at 1245.1 is looking very promising and if gold can close above it today then it may just be given a chance to squeeze some of the new shorts on the way up.

I had kept silver for my intrepid subs and I hope some of them paid attention. The reason why I actually grabbed 0.5R in both was the quick drop to the downside – a courtesy shake out I had been waiting for and was my signal to wait for a long entry opportunity. Which I then saw yesterday and the rest was pretty much procedural.

Anyway I’ve moved my stops on both campaigns to break/even and will await further instructions as the rest is in the hands of Ms. Market now.

I’m almost embarrassed to keep posting this chart on a daily basis but as long as the trend keeps grinding higher I’ll be trailing it like a happy camper. As the advance is now slowing down I am using the 2nd recent spike low as my reference as the first one is a bit too shallow. I’m counting 8R plus at this point in one of our longest running campaigns in recent memory. Heck I could get used to this!

Not much else on my plate for today. Time to kick back, relax, and let your winners run.