Wednesday, November 18, 2009

Alert: SLV

Take a look at the SLV. We are along 25 shares from $16 and now want to fill out our position. You can see that Silver has broken out above $18 and that would be a good place to keep a stop. We want to keep stop out of the way of the market makers though so let's place it at about $17.25.

Is this the silver breakout that everyone has been looking for? I don't think so, I think we will see gold and silver crushed again to make profits for Goldman Sachs commodities trading unit. I don't know if I'm right or wrong but we will get out of all 100 shares at $17.25 if I'm right. Otherwise we have a long great ride ahead.

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