A fine start to the week, wouldn't you say?
Things were rolling higher right away this morning. We faded some into the close, more so in gold than silver, but that's OK. The silver close is particularly constructive as we've made it above $30.50 are are hanging in there. I suspect that The Forces of Darkness will soon have to give up the fight at that level and will be forced to retreat to their final line of defense at 31.13. Obviously, that's not very far away and we could reach that level as soon as tomorrow. The fight there will be epic but we will win, of that you can be assured.
Our PMs got a big boost from DrC today. Take a look at this chart:
Gold continues to underperform them both but I have a feeling that that is about to change. In fact, I feel so strongly about it that today I began building a position in the $1400 April calls. Take a look at this:
I suspect we'll hang around 30.50 and 1360 into the overnight hours. Perhaps we can get some decent buying overnight as we head into Happy Tuesday.
More later. TF