Silver and Gold Update

By: Erik Swarts | Thu, Sep 22, 2011
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Here is an update of the daily Silver/Nasdaq 2000 analog from last weeks note (see Here). This chart was created intraday ~ 9:45 EST 9/22. The analog had a target for SLV ~ 36 for this week. I sold my respective ZSL and GLL positions this morning with the expectation that silver and gold should firm in the coming sessions and make one last attempt at a rebound high in the coming weeks.

To the degree that the markets have been highly correlated coming into the Fall, I would expect the equity indices to also firm in the coming sessions. When these correlations will weaken is anyones guess at this point - but I would expect that a resolution directive on the European front would go a long way to differentiating asset class relationships going forward.

As always - stay frosty.

Nasdaq/Silver Anaolog Study
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Erik Swarts

Author: Erik Swarts

Erik Swarts
Market Anthropology

Although I am an active trader, I have always taken a broad perspective when approaching the markets. I respect the Big Picture and attempt to place each piece of information within its appropriate context and timeframe. I have found that without this approach, there is very little understanding of ones expectations in the market and an endless potential for risk.

I am not a stock picker - but trade the broader market itself in varying timeframes. I want to know which way the prevailing wind is blowing, where the doldrums can be expected and where the shoals will likely rise. I will not claim to know which vessel is the fastest or most comfortable for passage - but I can read the charts and know the risks.

I am not a salesperson for the market and its many wares. I observe it, contextualize its moving parts - both visible and discrete - and interpret.

I practice Market Anthropology - Welcome to my notes.

Erik Swarts is not a registered investment advisor. Under no circumstances should any content be used or interpreted as a recommendation for any investment, trade or approach to the markets. Trading and investing can be hazardous to your wealth. Any investment decisions must in all cases be made by the reader or by his or her registered investment advisor. This is strictly for educational and informational purposes only. All opinions expressed by Mr. Swarts are subject to change without notice, and the reader should always obtain current information and perform their own due diligence before making any investment or trading decision.

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