Perseus
Long

THE UGLY STEP-SISTER

FX:XAGUSD   Silver/U.S. Dollar
2 months ago
I made the poor choice (captain hindsight), to long silver             miners (point A) instead adding to some of my fav gold             miners (AEM/BTO).

My rational behind this was I truly believed that silver             had bottomed at the $17 level (which has proved to have been correct so far), and that it would bounce back over $18 in the next few months (which it is still on track for). I had also believed that because silver             has an actual use in this world (compared to gold             ), that it would be the stronger PM by % in the next handful of months (which is still a possibility).

However, my silver             miners have been lagging behind my gold             miners significantly, causing me immense frustration over the past few weeks (perhaps I have the wrong stock , I don't know). I still have hope for silver             to start catching up to gold's %'s on the year, and having this trade pay off.

It is currently making higher daily lows on it's current trend-line, however it really hasn't made any significant moves. I believe that we potentially see 18 this week, depending on whether or not silver             continues it's bullish momentum ( RSI rising), and whether or not we catch some help from the NFP report on Friday (or some more help from Clinton). I believe it will continue to move up along this trend-line.

Will silver             change from the ugly-step sister and become Cinderella? Stay tuned...
2 months ago
Comment: What a day for silver.

To all my friends out there that own silver miners, today was a profitable day for us, and hopefully it is the first of many to come. Today has successfully waned my frustration of holding silver miners over the past few weeks.

The RSI on this baby is ramping up, and IMO I believe 18 will be seen this week, effectively negating any bearish views on silver. A clean break of 18 will turn this ugly step-sister into Cinderella.

Patience is key with this one.
2 months ago
Comment: I called 18 yesterday, but that ain't none of my business tho...
2 months ago
Comment: Let's hope that we can hold this rally above 1284
2 months ago
Comment: Opps I meant to say 18.300
2 months ago
Comment: Strong close over 18.300, will lead us towards 18.700.

I believe we could see this over the course of the week, depending on the jobs report, and whatever BS the fed decides to say. But this was a very encouraging day, given that we were able to hold onto our gains.

This will be a big week for silver.
2 months ago
Comment: 18.500!!!!!
2 months ago
Comment: Like I said, a strong push through 18.500 and we see 18.700.
2 months ago
Comment: Very, very strong day today.

We closed above all EMA's, which is very significant. We had a small sell-off at the end of the day that didn't catch on, as it was just retailers getting the jitters.

Target of a close over $18.700 still in tact for the week.
Perseus
2 months ago
I called 18, but that ain't none of my business tho...
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