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Silver in 2011
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Silver in 2011

  #121 (permalink)
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Shorts - http://www.youtube.com/watch?v=iApz08Bh53w

Edited to add: Resistance at 38.50 though

Edited to also add: starting to look like it will break

ETA: chart

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Silver in 2011-si-fib-ark.png  

Last edited by whatnext; May 10th, 2011 at 06:09 PM.
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  #122 (permalink)
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IV dropping nicely...

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  #123 (permalink)
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39 held like a champ - looks like 40 shortly

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  #124 (permalink)
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39 held like a champ - looks like 40 shortly

Ya, if shorting, the stop might need to be a little higher than 42.50

I'm sticking with the idea that gold has not finished testing the low. I hope i'm right.

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  #125 (permalink)
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Why short this chart? Could go to 44 if it's going to drop hard.

ETA: Can you play IV or is it just options being cheaper?

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  #126 (permalink)
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Why short this chart? Could go to 44 if it's going to drop hard.

Because gold chart is in a down trend, and silver also, and bouncing, could hit 42.50 (in my view). If gold is still correcting, (that's the big question), silver could be at 22.50 in same time frame. Its one bet.

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  #127 (permalink)
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Guess I'm thinking in a shorter time frame.

After all big drop offs theres a rebound with silver so nothing to say it won't go down to 22 over all.

Looks to be holding now.

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  #128 (permalink)
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Just looked and gold looks like an ascending triangle ready to break out today.

ETA: Gotta disagree about gold in a downward pattern.... looks like a rebound

ETA: yeah silver is about to break up hard over 39.20...

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  #129 (permalink)
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Guess I'm thinking in a shorter time frame.

After all big drop offs theres a rebound with silver so nothing to say it won't go down to 22 over all.

Looks to be holding now.

Same time frame, same price moves. The trend line is still down for gold, or neutral (in my view), so if gold is going down, silver will not go up. That's all i'm saying. If indeed the mini-gold correction is over, then it was a reset. On the long side of the story, China is apparently buying. I guess inflation is a propellant. Check the chart in 24 hrs, we'll talk again. Its a volatile situation, where the compass can spin 180 on a dime.

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  #130 (permalink)
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Bro on a trend line (lower support) going back to Jan '11 gold is in the green?

What am I missing?

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