Trade Alert: SLV

Be prepared to re enter SLV long or short on a breakout, up or down. Yesterdays exit was precaution only as the waters have become muddied. This is the first trade on the blog that I consider risky and leaving the market yesterday just removed some of the risk premium. Some of that mud was kicked up by the US dollar falling out of the bottom of it's consolidation pattern, but not a break of the wedge. I want to see the US dollar make a clear break out from the wedge, up or down. That will spell direction for silver and SLV. For SLV itself a break below 175 could easily send it back to the 200 dma at 150, where we could load up on more. Dream Dream. Faint of heart my want to sit this one out.