Only As Good As Your Last Trade

Alright – we had our fun and we banked some mighty coin. Maybe we got lucky and even pissed off some ZH muppets in the process. But frankly judging by the quality of the comment stream over there none of those clowns probably had any skin in the game anyway. Moving on….

Well, as the old saying goes: You’re only as good as your last trade. So, according to that motto – what’s next for silver, Mr. Mole? As a matter of fact, I do have some thoughts on the subject.
[amprotect=nonmember] Charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
[/amprotect] [amprotect=1,9,5,2]

How can I put this succinctly – let me thing… right:

If you are still short silver – get the fuck out.

Yes, that would do nicely. Look folks – silver just retraced nearly 30 percent in one week. The easy trade is over and now it’s closing time. There is some nice support waiting below and I wouldn’t want to test my luck. And yes, as we actually breached the net-lines sell level on the weekly chart we may actually drop all the way to 22. BUT, even if we do we won’t be taking the express elevator down. Most likely there’ll be a bounce and once it happens we can evaluate future long opportunities. For now – don’t be pig – get out and buy yourself a round of Hefeweizen this weekend courtesy of Evilspeculator.

Cheers,

Mole