Monday, May 2, 2011

Live Trade: SLV

parabolic silver
Thats the daily chart from last Friday. Despite what I said about the 15 minute chart in my prior post I can't see a semblance of support for silver until $30. Keep in mind that most runs retrace 33% or 50% or even 66% of the gain before heading higher. We have been in SLV since $16 and $17 and I don't want to risk losing %66 of the gains. If SLV breaks $50 we can go back in. We will miss some of the move sure, but by getting out here we will keep all the profits up to this point.

Sell 100 shares SLV @ 45.09

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