Silver failed to fail further in the overnight trade, leading us to hypothesize that it has found a local support level, which will lead to another round of buying once fear of a bubble collapse has subsided. This will make it easier to see this as “silver on sale!” rather than the end of a […]
Month: May 2011
May 02, 2011 the short side of the silver trade
after SLV had made a “rangestat” move: the maximum normal expected intraday move from low of the day to high of the day (so far), it reached 46 and stalled. This set up a nice ttrade for us in the short side, using ZSL the 2x inverse silver ETF, which gave us a low risk […]
May 2, 2011: closing the silver trade this morning
our trading room bought the morning hook in silver this morning at 44.00, with an initial stop of .25, and cashed the trade at 46 just before lunch for an 8R win (netting 2.00 a share for .25/share risk). Those that added positions along the way earned even more. good low risk intraday trade
Pre-market news: May 2, 2011
The combination of the death of OBL and the overseas selling of silver will make the mornng session a roller coaster ride. Spot silver is already well off its overnigfht bottom, but its a certainty that there will be another selling rush at the open. Cool hands will be buying, as the economics of silver […]