the setup I'm hoping for:
You may prove to be a wiser man than me.
I was stopped out almost immediately 5 cents after my short. Silver then turned and went down for the next 100 mins. it happens.
31.10 should be a very good spot to short, but i'm long right now, so I'm hoping to sell at the 31.10 mark.
The silver chart is really ugly. sustained moves don't look like this. Also, with gold up 1.2% you'd expect to see silver up double that but its only up 1.45%, so something is not right with her.
The good news is silvers bearish momentum implied by Nov 03, is completed negated today. If gold takes out 1678, silver will be pulled up for the ride. Said another way, silver became a bit stronger bullishly today
It will be interesting to see what the managed money does after 1:00pm, and how margin cover plays after 2:00.