Posted by bpandya25 on 18th of Jul 2011 at 02:04 pm
I am considering buying puts on SLV. With price of gold
just above 1600 and silver near 40. These seem to be
psychological resistance points. They also seem to be
overbought.
I plan to buy the August 42 puts on SLV. If SLV goes above
41 I would considering baily out. Otherwise my target is
30-50 %.
I plan to use this as a hedge to my precious metals
portfolio.
Posted by marketguy on 18th of Jul 2011 at 09:25 pm
this has been my thought on SLV for awhile now....would be quite
the feat to get to a new high but that's what I'm thinking (once
there though it'll probably be all over)....
Posted by macksurf on 18th of Jul 2011 at 02:52 pm
The support/resistance level for Silver spot was 39.50. It has
just broken out from that level, we'll see if 39.50 holds as
support here, so be careful.
SLV
Posted by bpandya25 on 18th of Jul 2011 at 02:04 pm
I am considering buying puts on SLV. With price of gold just above 1600 and silver near 40. These seem to be psychological resistance points. They also seem to be overbought.
I plan to buy the August 42 puts on SLV. If SLV goes above 41 I would considering baily out. Otherwise my target is 30-50 %.
I plan to use this as a hedge to my precious metals portfolio.
Any comments would be appreciated.
bp
this has been my thought
Posted by marketguy on 18th of Jul 2011 at 09:25 pm
this has been my thought on SLV for awhile now....would be quite the feat to get to a new high but that's what I'm thinking (once there though it'll probably be all over)....
The support/resistance level for Silver
Posted by macksurf on 18th of Jul 2011 at 02:52 pm
The support/resistance level for Silver spot was 39.50. It has just broken out from that level, we'll see if 39.50 holds as support here, so be careful.
Not yet on SLV
Posted by Tango on 18th of Jul 2011 at 02:09 pm
looks like a bull flag on the 60 min chart and ever if it isn't you would be buying puts on a pullback not a trend change....wait
silver
Posted by tshaker45 on 18th of Jul 2011 at 02:06 pm
wait for the turn