Thing 1 happened in May. There is another similar Thing that happened before that, in March. Now Thing 2 is trying to happen today on FOMC day. If this reversal holds and Thing 2 follows the course of Thing 1 and Thing no name, everyone should have been ready for it. All the warnings were in place heading into wild and wacky FOMC week.
And yes, I shorted silver (and held DUST) and didn’t blink when the market was moving against me this today. Because really, these were just reducing my upside, as I hold miners and several ‘bull stocks’ (with a small list of shorts hedging there too, because if (and it’s just an ‘if’ right now) Thing 2 copies previous Things, the market should eventually feel the pressure as well.
As I wrote NFTRH 366 and sent out updates I worried I might be whipsawing peoples’ minds. But that is the market this is. It needs updating. The chart below is giving another warning, it seems.
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