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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Davy Crockett who wrote (15774)4/9/2014 7:40:25 PM
From: John Pitera2 Recommendations

Recommended By
ItsAllCyclical
roguedolphin

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Hi Davy.... (SILVER CHART)......... I like the purchase of TZA....... sounds reasonable gold may be good for a trade...... I had just posted a gold chart.... and then and looked into Silver a bit more deeply.

I think that Silver is a lousy looking chart with jagged buying at $18 to $19 bucks.... but it looks pretty darn close to a descending triangle which of course we have proven is a very bearish pattern.. Silver shows no ability to rally meaningfully and it quite often leads Gold.

I would much rather be short silver than long and as a matter of fact we are exploring a short play on SIL.

So that also makes me even a bit more bearish on Gold.

John
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