i am shifting money around in the commodity complex inside 12631 today, and just sold out of the rest of my AGQ long (ultra long silver).
Here was my note to members just now:
chessNwine
Sold final piece of $AGQ long @ $79.13 from core $69.50 entry and $75.09 add to lock in the rest of the win. $SLVnow up against major resistance trendline dating back to 2011. Will post chart. Looking to add back precious metals and miners exposure later this week.
And here is the weekly chart of silver ETF, which shows price is now back to its major resistance trendline since the 2011 highs. To me, this is a good spot to lock in hard-fought silver gains and reassess as the week develops.
It is, however, excellent for bulls to see the primary 2010 breakout holding as strong support.
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Great work with the coffee and silver trading, sir.
Thank you, charlie. Much appreciated.