Labor Day Holiday Trades - Silver

Happy Labor Day!

We are not trading our day trade portfolios today but a portfolio like Diversified 57 has a few strategies that hold positions overnight and over the weekend.

Silver continues to be strong over the weekend and is up 2.24% on the session. Our two Silver Breakout strategies held long and are up +$4500 per contract on this signal. You can see the vertical red line which shows the beginning of the session on Sunday night. The potential to exit a trade on Friday and re-enter Sunday night at a better price is possible for strategies like this that hold trades over the weekend based on their signal while implementation could generate an extra, exit at Fridays close and re-enter on Sunday night trade.

Silver is currently at 41.665 and Gold is at 3550 as these markets are breakout.

Watching the correlations converge and diverge between precious metals and stock indexes is interesting. There is a case for both to rise together and there is also case for the prices to diverge and move in different directions, in which case, stock indexes should be pulling back in the face of a rally in the metals. Which one will be true as move into the last 1/3rd of the year?

The day trade portfolio trading and tracking will resume tomorrow.