Wednesday, May 7, 2008

Trade Alert: SLV

We are short a 1/2 position of SLV. The metal has retraced and now appears to be ready to roll over under 170, but the stochastic in the daily chart is still moving up. they key driver though is the US dollar which recently broke up and out of a wedge formation, it is unlikely for such a breakout to fail. If SLV hits 170 and rolls over we will fill out the short to a full position.

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