Silver and Gold

Quick charts on silver and gold.  Both hit new highs early this morning but sold off with the rest of the market.  The selloff was actually mild and they held key support, to finish essentially unchanged.

The dollar did as one would expect, which was just the opposite of the metals.  Given that QE2 is very much a real possibility, the metals will trade in a vacuum until the money printing Fed stops.

Staying in silver, gold, miners may be the only way to protect assets, but I am still looking for consolidation or even a slight pullback….to add more!

Trade the extremes!

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About thefront9

Independent trader with a flexible approach to the markets. Position trading, swing trading and day trading using Futures, Equities and Options. This site is intended to help others (and myself) see what I see and to stay true to the discipline of making trades at the extremes. Contrarian and TastyTrade addict! Living in Texas with my family, helping others and maybe playing some golf from time to time makes life busy and great. Add a little music and humor and that just about sums it up. Trade the extremes and manage risk.....always!
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