Friday, June 23, 6:27 am EST. Ladies and gentlemen, the metals are up significantly overnight overseas… significantly! This could very well be the start of a real rally. Volume must swell. Investors and traders must start piling in. If you don’t see an increase in participation, the level of the risk of failure is high.
But, if the volume swells considerably more than it has been of late, it’s a potentially; even a probably good opportunity, right here, to take a position, get on-board, and go for a ride.
I’m on my last day of vacation, willing be packing, and returning home today. I won’t be paying any attention throughout the day, in all likelihood… so, I will conduct my analysis over the weekend, and making a decision. Come Monday, I may be pulling the trigger, myself… or, as I am a relatively cautious and patient type, I may still hold back.
But, any of you real and serious traders out there… take a good, long, hard look, and decide whether today might not provide that opportunity we have been looking for.
A good increase in price, on truly significant volume, will be the catalyst and entry signal. And, if you don’t act then, you wait for the follow-through confirmation to follow.