After all of the crazy volatility we've seen lately, a strange and eerie quiet has descended upon the markets. I mean, for crying out loud, look to the right at those flat-lined metals charts. Sheesh!
So, what does this mean? Has the volatility gone away? Has everything calmed down? Have all the traders left for Spring Break? Hardly. We've swung wildly in both directions for several days now and its seems that the big $ are unwilling to make a commitment one way or the other. In reality, its just the feelings you and I are experiencing, writ large. I mean, I want to buy. Now. I think gold and silver are headed higher but I also feel a bit uneasy because we've run so far so fast in silver. Maybe if I wait a day or two, I can get some at 35. Maybe even 34. So I wait, unwilling to make a new commitment but I'm not selling, either. Not with things so out of control in the Middle East and the "days of rage" planned for later this week.
So, I do nothing. I sit and watch and the range gets tighter and tighter. Inevitably, something will cause the range to break and we'll get rolling in one direction or the other. I'd say its about 70/30 that we break higher given all the global unrest but you just never know. One thing I do know, however, is that this range only has about 8-12 hours left in it so, by 10:00 or 11:00 am EST tomorrow, we should have our answer.
So there you go. All signs point to tomorrow bringing a resumption of the volatility.
I'm off to get some rest. Looks like I'm going to need to be ready come daybreak. TF