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.

9:00 am PST. USO taking a nose dive today.

7:38 am PST. After looking at TLT some more, actually strike that, it might take until Friday or next week for TLT to get to $116.

7:30 am PST. TLT still headed to $116, possibly by tomorrow. Gold and silver will be under pressure as well until TLT is done on the downside and the indices done on the upside.

6:43 am PST. GDX could retrace from here to 22.20 by next Wednesday, but it will probably be a temporary bounce before heading lower again.

5:24 am PST. It looks like the dollar is breaking up higher in a wave 3 as I mentioned at the pre-market yesterday could occur. TLT is also continuing to work down towards $116, which I mentioned I was expecting. I expect the dollar could make a new high, while TLT will make a new low.  The Dow is still consolidating and will eventually go up to a new high. Silver continues to work its way down to $17. I really do not see anything changing the trends until the targets are achieved.

1:04 pm PST. The U.S. indices consolidated slighted lower again today, while silver continued to work its way down all day.

AAPL looks bullish for tomorrow. It is holding up better.