Silver was 51% away from the 'rubber band' 200 day MA, so it
needed to snap back a bit. That's how parabolic runs are,
they play with your emotion trying to entice you to jump on board
late in the game, which is what the 'masses' do. The time to
buy gold and silver is on deep pullbacks, not chasing parabolic
moves, that's what you do in bull markets. Anyway we'll see
what unfolds from here
I need to write a book on trading psychology!
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Silver was 51% away from
Silver
Posted by matt on 15th of Mar 2011 at 10:34 am
Silver was 51% away from the 'rubber band' 200 day MA, so it needed to snap back a bit. That's how parabolic runs are, they play with your emotion trying to entice you to jump on board late in the game, which is what the 'masses' do. The time to buy gold and silver is on deep pullbacks, not chasing parabolic moves, that's what you do in bull markets. Anyway we'll see what unfolds from here
I need to write a book on trading psychology!