Monday, October 10, 2011

Live Trade: PSLV

After the most recent carnage suffered by silver you can see that PSLV is basing between $13 and $16. notice that tight little triangle that formed in the past 10 trading days or so. When stocks break from a triangle pattern they usually have a nice pop to them. I don't usually guess, but since silver has declined so dramatically recently I think the resistance is down. So, take a full position of P SLV at $15.11. I'll post the stop later.

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