Silver and Gold Drop, Reaching New Lows

Just last week, I was speaking about a bottom on Silver and Gold being close. I was still waiting for a final leg down before jumping on the buying side, and I shared my opinion with one of my friends, who pinged me with his trade:
On 18 May 2012 00:14, PEJ wrote: 
Nice trade!
yes I saw. But I didn't want to go long futures contracts, and now, the rally has been too strong.
i'm wondering if it's not a headfake before the real bounce.
On 18 May 2012 00:08, PEJ's Friend wrote:
I went long Silver today
Good timing huh
I think we're now close to the bottom, we need a proper capitulation day, but it's very near now. Then we'll buy both PMs.

1 comment:

Anonymous said...

Silver did not drop to new lows.
The low was at 26.7 and the current drop was 27.2 or so.So they did not reach new lows.