My personal portfolio
A new trade opened
Early Wednesday morning, I opened an initial long position in Silver (weekly & daily), paying 1445.30¢ for the December contract. This price includes spread-bet dealing costs.
Yes, I am once again bottom fishing in commodities, which can be risky, not least as one can never be certain how low is too low. The strong Dollar Index, general apathy towards commodities (note: there is an obvious misprint on this chart, yet to be removed) and what I suspect are large short positions have completely reversed the last rally for precious metals. At least I am not chasing a rally! I am hoping the Dollar Index now pauses to consolidate its recent gains over at least the short term. If so, a technical bounce in silver could easily occur and that is all I am looking for.
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