19 July 2016

Gold Daily and Silver Weekly Charts - Summer Wind

"You will find that the truth is often unpopular and the contest between agreeable fancy and disagreeable fact is unequal. For, in the vernacular, we Americans are suckers for good news."

Adlai Stevenson

Funny but most people these days are also suckers for bad news too, especially news that spells doom and gloom and grim warnings about the imminent decline of the world as we know it. There are web sites that seem to specialize in it.

Maybe its not that the news had to be good, or bad, but extremely good or extremely bad. Maybe that says something about how overwhelmed we are becoming by 'news' so that only the real shocks can get our attention.

Most of life is just doing your daily chores, finding grace in simple things, and waiting. What one is waiting for says quite a bit about who they are.

Gold and silver were drifting largely sideways today in what can best be described as the 'Summer trade.'

We may see a little more action next week with the option expiration. Or some exogenous event could certainly liven things up.

Positional trading is fine, but short term trading markets like these tends to exhaust the retail trader with commissions.

Put more simply, short term trading these dull markets is for suckers, and those who prey on them.

Have a pleasant evening.