Today was very profitable for me despite spending part of my day caught up in the madness that is Boxing Day. For those not familiar here is a brief history of this shopper’s paradise, as I had never heard of it until I moved to Vancouver. I actually didn’t buy anything but the retailers have managed to turn it into Boxing Week, so I’m sure they’ll get my money yet. The weather here has turned quite nasty and we are buried with snow. Many people don’t realize Vancouver rarely receives snow as it mostly just rains here, but it’s so bad here that before today we were snowed in for days.

Silver bounced exactly where it needed to today, off of the symettrical triangle, lifting shares of silver stocks to big gains. I was in gold stocks until the close today when I took my profits, but entered a few silver stocks (PAAS, SLW, SSRI) towards the end of the day looking for a continuation of today’s gains next week. I probably should have held my gold shares as there doesn’t seem to be any reason for them to stall, but I felt like I should take the gains that are given to me before the market quickly snatches them away.

Volume was light across the board but I feel the price action is really painting a bullish picture for precious metals heading into 2009.