Stocks: I think wave iii of c up has topped. A down/up to complete, might take into tomorrow.
I've been told that stepping in front of a freight train is disastrous. Yet, when should one short silver? The only price that I am confident in is below the 90-minute M/A by 1%, or.7% on an hourly close basis. Thus, if I don't sell on rallies I have to wait for 40.87, or $2.50 lower. Now, some smart guys may say that their technical indicators would tell them before that price that the turn had occurred. I challenge that assertion. I've followed the silver 90-minute M/A for 7 years and have confidence in it. Stochastics, MACD, and the rest do not have it's track record. So, when is a good time to short silver? I believe that when we have a wave count that makes sense, sentiment gauges that warn of turns in psychology, and cycles that this is about the best we are going to do. The silver market is a religious experience, rather than supply and demand. Shorting silver is not an ego trade at all. I just don't know how to get in without waiting for $2.50 down. If silver goes flat and the M/A catches up then this gap will narrow, but I can't believe that silver will go sideways.