This time by Signor “AG” — the lustrous white metal we like to invest in using [[SLV]] . I’ve got SLV’s 38.2% retrace (again, a “strong level”) sitting right at about $16.80 (again, click on the chart to expand it).
Now I’ve got more silver than I know what to do with, and– to my teste-aching chagrin– even a little Silver Wheaton Corp. (USA) [[SLW]] — otherwise known as “the bane of my existence” as of late.
But if you Gollums are interested in getting in, or back into one of the two “My Preciouses” (the other being [[GLD]] which I’ll cover later), this would be an opportune moment. SLV’s next fib level (50%) is at $15.67, by the way. Even I may add if it gets to that tempting area.
Gollum!
I’ve got quite a bit of SLV, no SLW fortunately. I’d like to add some GLD if it gets just a little bit lower.
Boca,
I’ve got GLD’s long-term 38% retrace at $83.50, but I’m also showing some support right here ($88.08) from an uptrend line that seems to be the bottom of a (possibly bearish) ascending wedge.
From the long term perspective, GLD could pull all the way back to it’s 50% retrace ($78.00) and still maintain the up trend.
From my chart projection, the uptrend line hits the 50% fib on September 23rd. I figure Ben will be cutting rates again by that point. Be interesting to see how this plays out.
________
Jake,
desperately awaiting the first NY Giants post…
I’ll dig up my camp notes…
See what I can pull together tonight…
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