In today’s alert and in the previous ones, we emphasized that the outlook has been bearish, but not extremely so and that we are waiting for a bearish confirmation from the silver market. We explained that the signal that we are waiting for is silver’s temporary, but visible outperformance, ideally accompanied by mining stocks’ weakness.

Mining stocks are not very weak, but silver is definitely outperforming gold. We are seeing this kind of performance today. At the moment of writing these words, gold is up by only $6, while silver is up by over 30 cents. This kind of outperformance definitely enough to make the short-term outlook more bearish than it was before the start of today’s session.

Consequently, it seems that increasing the size of the current short position in gold, silver, and mining stocks to 150% of the regular size of the position is now justified.

As always, we’ll keep you - our subscribers - informed.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA
Founder, Editor-in-chief, Gold & Silver Fund Manager

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