I sold my AGQ (ultra-long silver ETF) inside 12631 earlier in the week, and noted it on this blog, in large part due to the metal running directly into its major resistance trendline dating back to the 2011 top–You can see as much on the first weekly chart below for the straight-up silver ETF.
The good news, as we can see on the second chart of the daily timeframe, is that silver is consolidating tightly so far without much giveback. There is still a ton of work to do to establish a new bull market for the metals and miners. Taking it one step at a time, though, yield a so-far-so-good result. I want to see a move back over $21.13 now.
What are you trading this afternoon?
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Longs; JO, SGG, CORN, ANR & SKF
Great book!
thanks soo much Chess,
im still in it, to win it,
couldn’t sell any positions,
blood will drip from my golden silvery teeth
Fierce wolf.
Big close for UPL today. Poised for major breakout if strong. Regardless, probably have to wait for follow through next week since there’s plenty of room for headfakes right here. I’m still in it, but honestly I don’t feel it’s ready for a big breakout yet… not that charts care about my feelings like I want them to.
nice
Don’t buy BKS until they charge for admission and match AMZN pricing on books
miners, silver,
long CZR today morning