Just wow, What a round trip and i definately caught a falling knife here and bought $SLV Oct 14 19.00 calls
having bought at .09 its a mere .04 now this is a back burner position for now still have almost 30 days before expiry. Minor side note. I stopped stacking silver when price broke $30, now at almost a 50% discount, you can be your @$$ im gonna buy more....
If you're a fundie, the price fixing is about to come undone and possibly go electronic. CME possibly looking to buy the price fix blah, blah, blah. Long term swing target says we will retest 26 and eventual 33.
The recent run failed to take some key levels for silver: The 76.4% level of the Mar-May down move as well as the time Fibonacci 61.8% level of 2011-2013 down move. Therefore I see Silver in the short term going lower. The resistance around 17.5-18 has been tested quite a few times in the last year and I see a bottom around that level forming.
The daily SLV sold off in a nice 5 wave pattern down, reaching the MTPredictor minimum wave 5 target. A red high volume VSA spike came in at the low in wave 5. When this is followed by a blue buyers candle it is an indication that professionals are stepping in and buying. If, in fact, professionals are buying, then the move up should not be a small one. A DP...
I follow this closer than normal the last two months, as we are approaching one of good periods according to seasonal historical data, that usually price starts bottoming around June/July and rally late July to end of September.
www.seasonal-charts.com
This is the same chart posted a couple times before, but the rounded bottom I was hoping for starts to...
After five waves, usually followed by three. Five waves are clearly visible here. It turns out that four and a half months ago, I correctly pointed to the bottom. Now, just wait for the beginning of rise.
Silver looks like it'll bounce back towards the 200 day MA if it can hold these gains to the end of the day. Not looking for anything long-term or a fundamental investment, just a nice bounce.
Price: 18.90-ish
Stop: 18.10 (-4.1%)
Target: 20.10 (6.5%)
Using Bill Williams Chaos analysis using Operative Time Frame and his way of delineating the Elliott waves using momentum, we are beginning a powerful wave 3 of 3 uptrend.
I'll go long using options when we get to 19.44 or above.
Tension with Russia and United States is growing over Ukraine's Crimea region. Recently the European Union and United States slapped sanctions on Russian lawmakers and businessmen; Russia responded with its own list of sanctions against a number of U.S. lawmakers and officials. Wealthy individuals are starting to look for a safe place to stock away money, and...
I believe we will be seeing silver and gold moving higher, i suggest buying the metal and keeping with you but this is an ETF which is run by banisters both the GLD and SLV are run by the most vile of banks JP Morgan and HSBC crooks to the core but you can win in the end with hedge of metals
Here we are, the point of intersect. Silver has been supported by a multi-year support/resistance area, and is about to run into a weaker bearish descending resistance. In the near term (previous 6 months), the chart has set up a double bottom pattern. To be more exact, we classify this pattern as an eve-eve double bottom pattern. Double Bottoms are very...
If we break below the cloud, and the price support area of 19.29 in the coming week, I'll be looking at puts targeting new lows on the 4H and daily time frames.
Please see my prior post of 4H time frame for short setup details.
