Watch Out for Stop Busting in Silver

By: readtheticker | Sun, Mar 10, 2013
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The Hammer

The markets are a game, like any game you have to have a feel for the other guy's tactics. This is why fundamental traders get slammed, for example Apple Inc may get $1000, however it may be via $300 first.

Silver and gold are widely followed. Both markets have very strong fundamentals that should see very high prices in the years to come. Professional traders knowing the wider passion for a trend can use the open market to shake and rattle weak hands to allow themselves to buy silver from those folks who do not have the nerve to hold during a pullback.

Currently the silver Etf is at $28, so what possible news could be used to smash silver to $19 or so. Maybe, the US is confirmed to be in recession, or the temporary halting of QE (stop laughing), or Ben Bernanke is replaced with Paul Volcker. The truth is nobody knows, but you can bet the silver traders want to bust stops under $25 to release silver to buy. This is typical C wave behavior, it is very nasty!

Silver ETF Chart
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readtheticker

Author: readtheticker

readtheticker
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