Supergut

We do, Linda, we do. 😀 Zests & Jars on the 4H silver and gold futures charts: keep an eye on those swing highs and lows.☺️

Silver and gold have been extraordinarily resilient in the face of a staggering 41.6% spike in VX futures, with ES down 5% and NQ a whopping 7%.😌 That's very comforting, especially for silver, which could have easily been obliterated by the general risk-off spike. Longer term, we are at a crucial juncture after 9 months of mayhem and beatings. The potential for an epic Clean & Reversal is all there: all the ingredients perfectly aligned for the mother of all sweeps and stop hunting.😊 Of course, this does not guarantee the outcome. We've only just started putting in the easiest part of the difficult, hard work required to reverse such strong and solid trends on the daily charts.☺️ We are heading into our dear Tutors' Friday in a very tumultuous way, with indexes and the VIX trying to regain some composure overnight. You can bet we're going to see some serious volatility around the Non-Farm Employment Change data release at 8:30 am.😜 It's mandatory to manage your risk properly and size positions correctly in light of extreme turbulence. Rule number one is to survive in the markets, well before making money. Do not lose your shirt on a Friday.😉

Pretty nice to see the VIX up 22%, the S&P 500 getting hit hard, but silver and, particularly, gold remaining relatively calm.☺️ Something has changed.😌

The venerable HUI Gold BUGS Index lost a solid 12% in October, closing just a few dollars above the clownesque nominal 2011 high of 638.59.🤡 As if a 15-year-old dollar figure could still mean anything in a fiat system, particularly in this one, during the very last stages of the monetary metastasis that will likely wipe out fiat currencies and the staggering, unpayable mountains of debt piling up around the world. And yet, traders love these vintage numbers, even if $100 certainly doesn't buy what it used to in 2011. Someone clearly preferred to take month-end profits off the table after an admittedly rewarding couple of months riding in the Boy Plunger's seat.☺️ Curiously, they're delivering exactly the same kind of farce in silver, sitting right on top of the 2011 high around $50, as if that old level could still carry any meaningful weight.😊 Interestingly, silver's monthly performance has been 50% worse than that of the miners, something we're not particularly used to seeing, especially when equities are correcting and the VIX starts trending higher. Looking at both charts, it's really difficult to complain too much as a long-term precious metals investor, unless you FOMOed into the sector and decided to establish your long-term position at the beginning of 2026.🥲 If that's the case, though, a thorough self-analysis should precede any complaining, in my opinion.😀 2026 surely sucks, except for long-term investors who completely liquidated their multi-year longs. I can confirm that from the mounting losses I'm accumulating this year.🙄 It's never a pleasant experience, even after the thundering results of 2024 and 2025, and even if I took generous profits off the table before the correction.😌 Still, once again, there's nothing truly bearish so far in the monthly charts, so I think it's sensible to maintain some degree of exposure to the sector given the overall budgetary, geopolitical and monetary madness unfolding around us. Just be careful to manage risk properly. Silver down 18% in a month is a foot massage on a Bali beach. We've seen it lose more than that in a couple of days.🤪 Things can turn really ugly, really fast, so make sure you're properly sized and have some dry powder ready to deploy at radically lower levels, just in case. Double-check your position size against negative scenarios at least twice as severe as what you think poissible, and make sure you're comfortable with that kind of heat. You really don't want your amygdala taking the driver's seat in market conditions like these.😉 Enjoy your weekend and study your charts.

Clean & Reversal again on silver futures, dropping to a new low after the brief spike following Warsh's press conference.🥲 Same old pattern: a drop, the consolidation while waiting for broader contact with the moving average cloud, the stop hunting, and another drop.☺️ Until we can trade comfortably above that moving average on the easy 4H chart, there's really no reason to hope for a trend change. That's the absolute minimum silver needs to accomplish if we want any chance of a bullish picture on the daily and weekly timeframes.😌

You can almost see the immense effort at-market buyers are facing against the limit sell wall sitting right on top of those clustered highs on SI, silver futures.☺️ GC has already powered through it to the upside, while the white metal is still stuck in a liquidity quicksand.😌

SILJ and GDXJ trying to put in a damn low and at least negotiate a truce with the massive stretch from their moving averages after shedding a staggering ~30% since the August peak.😌

"Just for fun, and with no intention of making any long-term prediction, I’ve added the quarterly nominal charts for silver and gold, with a reasonable extension to January 2030." These old posts... @Silverbark3. 😅