Tuesday, November 16, 2010

Another Day Should Be All It Takes

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In last weekend's post I asserted that buy signals were on the way for gold, silver and their miners.  Well, this post is going to take a look at that assertion , show us the progress that has been made toward getting the BUY signals confirmed, and suggest the timeliness in which they may occur.
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First, a digression for the obligatory trading record stuff.  Today I made one significant purchase of Global X Silver Miners ETF (SIL) at $21.50.  The chart is a 30 minute chart - both True Strength Index (TSI) and Money Flow Index (MFI) indicators have a new trend line break.
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Click on the charts to ENLARGE
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My TSI Trading record has been updated.
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Not entirely following my own trading signal rules, I have been loading up on silver and silver miners for what I think is going to happen, and begin to happen soon.  For those of you trader/investors more disciplined than myself, waiting for the BUY signals to be confirmed on the daily chart (here we are going to look at the 4 Hour Chart) is a very wise decision.  We are not there yet, but I think another day of going nowhere will be all we need to get those BUY signs confirmed on Thursday or Friday at the latest.
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Here, in alphabetical order, is a glimpse at the current situation for AGQ, GDX, GLD and SIL as shown on today's closing 4 Hour Charts.  
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GET READY!
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