Thor,
Insider selling at the tops bother me, but not at the bottoms. I want to give you my present analysis for what it is worth (nothing). The chart has been in an uptrend since the December low in the 1.00 area. It tested support today in the 1.18 area, but strangely, that does not appear on my chart. I know that I saw those trades, but perhaps I need a new chart service. At any rate, I think that support levels in the 1.20 to 1.25 area are to be tested again. That is the bad news.
Now for the good news. Lows have been tested two times so far, and will be tested a third. The lows are moving up and I expect a continuation of that. We are not reaching new lows here and I do not expect that we will. The cycle low was the December low and I do not expect a retest of that. I could be wrong, however and I expect all to forgive me if I am.
I should have grabbed some of it today, but I have enough and I found better use of my small dollars in the futures market today. Long Soya bean meal, can you believe that?
I tried to short silver on Friday, but the market closed early and my trade did not execute. I am crying about that today! Should have done it early this morning, but I did not. See, I make lots of mistakes!
Mistaken, Jack |
