$ Silver $

09-04-2008-Silver-Daily.jpg


While the paper markets are in breakdown mode...commod's should bounce.
Silver looks prime for a bounce IMO. Tight stop and quite a bit of potential upside off this divergent test of the last lows, this is an excellent trade opportunity as I see it. :)

Remember you're counter trend if you're long, the 50ma has crossed below the 200ma already. Pay extra attention to the red dots as they are double backed resistance (by ma and structure). The best trades (with the trend) would be to look for rejection at those levels and get short. Those could also be used for long targets which is classic textbook support and resistance.

I LOVE this chart example for TA...it just is clean and clear. I see too many people out there trying so hard to make sense of a shitty chart when there are TONS of other plays. If the chart doesn't hit you quickly don't bother trying TA. If you cant see a clear line in the sand where bulls and bears will interact don't play it cause it will be hard to gauge risk/reward ratios. Trending plays are MUCH easier to work TA with as the side winning is already evident and of high probability to continue. Choppy sideways action is often like betting on red at the roulette table IMO...unless you wait for the breakout that is. The consolidation plays do tend to be more violent and can provide quicker profit if you are patient and quick enough to enter on the break.

JMHO
 
Good you had those tight stops. Too many people still trying to catch the bottom. We need them to give up all hope.
 
silver is going to fly monday to the upside

else gold will get crushed along with all other commodities

not sure how this will play out but the

'dark side' sure played stupid today selling the dickins out of silver

:p
 
ok ... well at least the gold / silver ratio has been coming back in

at this time it is in the mid 60's down from the mid 70's a week ago

:cool:
 
i have been wearing this tinfoil hat for several years now. if you don't believe me look back at page 3 or 4 on all the silver threads. i have been up, down, sideways. admittedly having lost all objectivity but the exact scenario envisioned (armageddon, give or take) has more or less occured. so pay me. pay me right fucking now. there was no benefit of owning silver for the past several years. how is that possible? how is there no flight to safety? where is the fear? how am i supposed to retire young and handsome. this tinfoil hat is getting itchy.

flame away!!
 
the economic siege of Stalingrad starts tonite.

if the asshole cant borrow at 0.05%

who thinks that debt can be refi'd at 8%

gee Warren, I want the same deal you got

10% simple, at a 10% discount non-callable, nice way to double your money over 7 years..

gee Goldman, you got a Bolshevik style hose job
 
You must log in or register to reply here.
Back
Top