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Halloween Hell For Metals

 -- Published: Sunday, 2 November 2014 | Print  | Disqus 

By Warren Bevan

Markets were strong as suspected, and as the charts said would happen with leading stocks really doing well for us.

          This is a very strong time of year historically and it looks like this year will be no different.

          We generally make a good portion of the years profits in the couple months into Christmas.

          It really doesn’t take much time to make the years gains great, but being able to wait for the right conditions to appear is very hard for many, but not those who trade with me.

          Metals fell right on schedule as I’ve been talking about and I did actually short some gold using a 3X ETF and we did very well, quickly, although it could have been much better.

          I thought gold may rest a bit near $1,200 but it did not.

          3X ETF’s are not for holding for any amount of time but I should have held for 2 days instead of one and we could have banked 53% instead of the 16% we did.

          The gold fall was spectacular and it looks like we are finally breaking the $1,180 area and heading now to $1,000 by years end.


          Gold lost a large 4.69% for the week and has all the perma-bulls reeling to find/fabricate an excuse why.

          I’ll tell you why.

          Because the chart said so.

          Last weekend in this letter I said gold was rolling over and did not look good.

          As the week passed, I told subscribers that gold was ready to roll over harder and it did right on schedule.

          The excuses and talk of gold raids are fine and dandy, but the fact is, if you can read a chart, none of that matters since the chart told us gold was in trouble.

          Now that gold has held under $1,180 on a closing basis including daily, weekly and monthly charts, it is a strong sign that $1,000 is back in play.

          We are now on the way to the real blood in the streets moment I’ve said we really need to see.

          We will see perma-bulls ruined and shaken and finally coughing up their gold in the months ahead.

          There is some support around $1,100 but really there isn’t anything that should really slow gold down too much between here and $1,000.

          I will be looking to short gold and perhaps silver on strength in the months ahead and we should do pretty well considering how violently they can fall.


          Silver lost 5.96% and did so with violence.

          Silver could never get going on the upside even while gold tried to and sure enough, gold came back down and then actually has now taken the lead, leading silver lower.

          Nasty, nasty action on huge volume and the major support level I’ve been talking about for a long, long time at $15 is now right here.

          If silver can’t hold $15, $10 is the next major level to watch.

          So many investors bought silver between $15 and $18 and many of them are now showing a loss.

          They won’t allow losses to mount and we should soon see an influx of physical silver come onto the market.

          It really does blow my mind how people can so blindly follow writers who come up with all sorts of fancy explanations for why the metals are falling.

          Sure, it may sound great and exciting, or that you are part of a great good team but the fact is, they have lost so many people so much money.

          The arrogance and madness of people never seizes to amaze me.

          I make money, and I try to help people make money as well.

          I don’t care if it is gold, cars or pills.  I make money.

          This trading game is about finding the hot sector and getting into it, not sticking with an asset class once its rise has ended but people are stubborn and always will be.


Platinum lost only 1.08% this past week in the face of much weaker gold and silver but it will not hold up in the face of more weakness.

          Platinum follows gold and silver, it really is that simple.

          There is some support here at $1,200 for platinum but below that we are looking at $1,000 for some support then the $900 to $890 area.

          I may consider shorting some platinum on a good break under $1,200 since a $200 move lower would be fun to grab!


          Palladium actually gained 1.55% this past week in the face of major breakdowns from gold and silver.

          Palladium still looks great with a nice double bottom I pointed out here two weeks ago.

A break above $800 would be a buy level and take palladium to $840 if all was right in Kansas, but it’s not.

          As always, palladium won’t be able to rise for long if gold and silver continue to be weak.

          Palladium does follow gold even though it has done so reluctantly and perhaps on a bit of a delayed basis.

          So while palladium does look great on a break above $800, in reality, I’d look for a break above $800 to fail which means a short could be taken once palladium shows the failed breakout and moves back under $800.

          Well, hopefully the candy this weekend was sweeter than my report to you but the fact is I’ve been telling of this move for a couple years now as it has unfolded in front of our eyes.

          If you’ve not heeded my words to date, perhaps it is time to give it a try.

          Thank you very much for reading and you can find out more about what I do for members as we focus on leading stocks for the most part at


          In my free, nearly weekly newsletter I include many links and charts which cannot always be viewed through sites which publish my work.  If you are having difficulties viewing them please sign up in the right margin for free at or send an email to with “subscribe” as the subject and receive the newsletter directly in your inbox, links and all.  If you would like to subscribe and see what my portfolio consists of please see here.

If you found this information useful, or informative please pass it on to your friends or family. 

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          The free weekly newsletter “Wizzen Trading” does not purport to be a financial recommendation service, nor do we profess to be a professional advisement service.  Any action taken as a result of reading “Wizzen Trading” is solely the responsibility of the reader.  We recommend seeking professional financial advice and performing your own due diligence before acting on any information received through “Wizzen Trading”.

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 -- Published: Sunday, 2 November 2014 | E-Mail  | Print  | Source:

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