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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

Keeping That Gap Open

chessNwine Wed Feb 26, 2014 11:37am EST 13 Comments

funny-kid-cavity-search-airport-book

Silver bulls are going to want to see the $20.34 are on the ETF, daily chart below, hold strongly here on a closing basis. While it would not be overly-bearish, the more bullish scenario would of course be to see a gap-fill avoided down to $19.70–The inverse head and shoulders bottom breakout level from a few weeks back.

The silver weakness today is the most pronounced of the metals and miners, so I am looking to see if bulls can make a stand here.

Elsewhere, i decided to take a quick loss on my GM short from yesterday with the immediate snapback rally.

P ZNGA are shaping up nicely as longs, while Goldman and the banks continue to lag.

What are you trading this morning?

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SLV

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13 comments

  1. superocean9
    superocean9
    February 26, 2014 at 11:42 am

    Long – CORN, WEAT, BIS, ONVO & HNT

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  2. illmighty
    illmighty
    February 26, 2014 at 11:44 am

    NFX

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  3. 'OT'
    'OT'
    February 26, 2014 at 11:49 am

    oh my LOL

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  4. zookini
    zookini
    February 26, 2014 at 12:06 pm

    CUDA largest position smallest volume hate that lol

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  5. zookini
    zookini
    February 26, 2014 at 12:06 pm

    Also moving stop on CMG to 555 from 548

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  6. alf44
    alf44
    February 26, 2014 at 12:10 pm

    .
    GM recalls 1.6M vehicles for faulty ignition switches … blamed for multiple deaths…

    …stock pops ~2.5% !

    Makes perfect sense !
    .

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  7. yoshii11
    yoshii11
    February 26, 2014 at 12:12 pm

    did Homeland Security really put that picture out there…for real?…or is that someone’s shenanigans?

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  8. Mister Jinx
    Mister Jinx
    February 26, 2014 at 12:19 pm

    Not loving that GM short.

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  9. zen
    zen
    February 26, 2014 at 3:06 pm

    Great site I am new to the site and watch your videos everyday. Can you give some more detail on your thoughts on SLV in your daily video? I got in around 20.74 long for holding for awhile, thanks.

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