Wednesday, October 27, 2010

Trade Alert: GDX SVM

With Goldman Sachs marking the top of gold and silver declaring that gold would go to $1600 per ounce and silver to $27.65 in a year we want to snug up our stops and be ready to bail when Sachs does.

We entered GDX long at $29.91, it is now trading at $54.12. Put the stop at $53.25.

We entered 50 shares of SVM long at $7.15 and another 50 shares at $6.47. SVM is trading at $8.92. Put the stops at $8. 25

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