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Gold/Mining/Energy : Silver prices

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To: Mark Bartlett who wrote (1205)	5/27/1998 8:00:00 PM
From: Ray Hughes	Read Replies (1) of 8010

Hi Mark, Plot silver price on a simple rectangular grid and fairly regular patterns emerge. Rally/retracement levels connect with sufficient regularity to suggest trading strategies. These suggest small rally is due. However, seasonal trend remains downward through end of summer. Buying for a contra-trend rally demands firm commitment to taking short term profits and cutting losses very short to pay for likelihood that number of losses will outweigh the fewer gains. Human nature works against success in such trading. We are taught to let winners run (in this instance they are likely to be small until after summer) and human nature is to deny losses and let them get big. Regards, RH

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