Today we are having a large sell
of right in the middle of window dressing and that can't be good,
the flight to quality has the dollar and bonds and gold up but
stocks and silver down. That huge railroad track left behind from
the parabolic move in silver is valid IMHO and you should continue
to stay away from that metal unless you are shorting it.
Posted by dallassteve on 1st of Jun 2011 at 08:00 pm
Ditch, thanks for your railroad tracks on silver. I bought
ZSL on the gap up this morning, and am showing a 5% profit today.
I think this correction in precious metals is not done yet,
and I think silver could go lower than 29. Shorting is an
art, and I'm not sure I'm much of an artist. I'll set a stop
at entry and try to ride out the volatility.
yep and SLV pretty much hit our targets for the bounce and after
a parabolic move and correct, an oversold bounce was to be
expected, but that then another pullback, though don't tell jtver
that.
$XAU volumes
Posted by ditch on 1st of Jun 2011 at 03:09 pm
ZSL
Posted by dallassteve on 1st of Jun 2011 at 08:00 pm
Ditch, thanks for your railroad tracks on silver. I bought ZSL on the gap up this morning, and am showing a 5% profit today. I think this correction in precious metals is not done yet, and I think silver could go lower than 29. Shorting is an art, and I'm not sure I'm much of an artist. I'll set a stop at entry and try to ride out the volatility.
yep and SLV pretty much
Posted by matt on 1st of Jun 2011 at 08:35 pm
yep and SLV pretty much hit our targets for the bounce and after a parabolic move and correct, an oversold bounce was to be expected, but that then another pullback, though don't tell jtver that.
Thanks for the charts Ditch
Posted by puma on 1st of Jun 2011 at 03:21 pm
Thanks for the charts Ditch -- that GDX:GLD ratio chart is not pretty.
So much for these being
Posted by john9o9 on 1st of Jun 2011 at 03:11 pm
So much for these being "strong up days....."