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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
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A New Silver-Plated Range

chessNwine Thu Dec 20, 2012 12:39pm EST 6 Comments

The purple lines on the silver weekly chart below (ETF) seem to indicate a new range between $25-$35. I’d look for a mean-reversion play a few points lower given the metals’ recent carnage.

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6 comments

  1. Pino
    Pino
    December 20, 2012 at 12:53 pm

    Thanks Chess. Could you tell me your thought for GLD also? I’m riding this wave.

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  2. Mr. Cain Thaler
    Mr. Cain Thaler
    December 20, 2012 at 12:55 pm

    Thanks Chess.

    I’m thinking load up on long term SLV calls around $25, then wait for a $CCJ-type bottom move.

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  3. Mr. Partridge
    Mr. Partridge
    December 20, 2012 at 12:57 pm

    AGQ put holders look like evil geniuses today

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