7:38 am PST. I am looking for $25.50 next week on negative divergence.

7:31 am PST. TLT catching a small bounce here this morning, but it is not done yet to the downside. It still has further to go.

7:29 am PST. The dollar is selling off a bit today. This is going to be interesting with the Fed next week.

5:37 am PST. The Dow picking up extra points after yesterday’s V bottom. Looking good. AAPL too. Silver bounced of 16.855.

1:04 PM PST. TLT continues to make its way down towards $116, which is what my target still is. PAAS continues towards $13. GLD had a 900,000 share block trade at 114.89, and we closed below, so I remain bearish.

The Dow continued to correct and had a nice minuette V bottom. AAPL still looks bullish. NFP tomorrow.

11:44 am PST. From 13.67 to 23.50 in five trading days.

11:33 am PST. Well, here we are, silver is now at $17. Am I surprised? No. Did I short it even though I thought it was going there, no. And that is my trading lesson for this week. I could see my target, I could recognize the pattern unfolding and I could see where the market intended to go, but I could not pull the trigger. But that is okay. I am happy that I recognized the pattern correctly. It happens a lot, and if I do this often enough and am able to consistently recognize the patterns correctly, with experience, I will gain more confidence. That is the learning curve. 🙂 That is also the point of this blog, to clarify my trading thoughts, and learn!

8:10 am PST. Silver is about to slice through $17. If it does, next down is $16.88.

7:12 am PST. AAPL had an interesting shakeout candle.  I am still bullish on AAPL.

Southwest is catching a bid this morning too.

5:07 am PST. Silver tagged $17.15 pre-market and is now bouncing. Gold tagged 1202.9. This is a good place for the metals to do a wave iv bounce possibly into Friday or Monday.

1:01 am PST. Yet another bearish close for gold and silver. I continue to look for $17 on silver tomorrow, but I do not think that will be the low. I think GDX finished its meager bounce today. The Dow continues to correct. USO had an interesting major sell off today. The UUP looks bullish tomorrow.