Friday, June 22, 2007

Gold And Silver



As you know I am bullish on gold and silver and as of now I am slightly down on both positions. In the above chart you can see exactly where I am long from and where I am placing my protective stops. In red is where I am long and in green is where my stops are.

I am long these metals based on my interpretation of their technical patterns, but in addition to that I am bullish on gold and silver because of my forecast for a weak dollar. You can read why I am bearish on the dollar by clicking here.

2 comments:

Jesse said...

Hi Kevin,

Looks like we got dangerously close to your stop on silver today. My question is, if that stop gets triggered do you have any thoughts on how low silver might go? I know you don't have a crystal ball, I am just wondering if any of your analysis might be able to project the next line of support. Thanks.
Jesse

Kevin said...

I really don't know...I'm just taking one day at a time..

I think the dollar is going to move lower..I'm hoping that happens real soon so that it will boost the metals.

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