Trade Update: SLV

Before I forget I want to mention that I picked up some 1 troy ounce sliver dollars on ebay today for $19.55 each. Any thing under $20.00 per troy ounce is a steal. If you read Krugman Cramer and Hitmen Coming you'll know why September could be the month we see economic atomic warfare and the beginning of a nuclear winter lasting the rest of our lives.

As far as the paper silver is concerned on daily chart of the SLV shows the index bounced off of the $16 level earlier in the week and is poised to test it again. If will likely fail, since you can see that $16 provide support it fails back in August 2008. Support once broken becomes resistance until broken to the upside again. Will SLV break out? I dunno, but the stochastic is at about 80 and rolling over. It is during runs like these that the manipulators usually come out and push it back down. If that happens it will be interesting to see how the ebay prices are affected. The COMEX aren't the only powers in play anymore, the Hitmen are taking aim so get some silver while you can.