David Fuller's view

Silver’s trailing stop triggered

It is tricky trading in these ranging markets.  They will not always move sideways and I thought I might have joined a trend when silver briefly broke higher this morning.  That enabled me to place a breakeven which was triggered a few hours later when Wall Street rallied on the retail sales data.  For the record, my purchase of March silver at 20.135 on 2^nd January was stopped out on Tuesday at 20.15. These prices include all spread-bet dealing costs.

While today’s small upside failure in silver is disappointing, I think the odds are now better than 50/50 that silver and gold will trend higher in the short to medium term, following the recent leads of platinum and palladium.  Disciplined leveraged trading is often a matter of looking silly most of the time, waiting to catch the next winner.