the overnight session in precious metals was strong, and given the “maxpain” and oversold condition of silver, we ar prepared for an upward-trending momentum day in silver. An intraday move of 7% in silver is normal these days (between low of the day and high of the day) which translates to a move greater than […]
Tag: Silver
May 09, 2011: closing call Staying long Silver
the maxpain range compression startegy paid off; we saw a nice gap up at the open, and buying pressure all day in the indices and in silver especially. AGQ (2x silver) returned 14%+ , day over day, and offered a number of low risk intraday entries Oil, agriculture, and other selected commodities had their 2d […]
May 07, 2011: silver pauses in its downward slide
silver finds a temporary support level after a nearly 4 sigma selloff in 5 days. the slight recovery.holding of support allowed for a reasonable intraday trade to the longside, but Monday’s trade should be especially interesting. Failure below yesterday’s low will be an autotrade in ZSL, but a breakout above today’s High will be a […]
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 […]
Silver futures weakness
uncharacteristic weakness in the silver futures overnight, stabilizing after down $2 oz; this is about a 4.5% discount; i’d be surprised if voume didnt come in to buy silver on sale and erase the deficit Related articles Silver surges to 31-year high, gold hits new record (telegraph.co.uk) Silver Flirts With $50 (online.wsj.com) The S.L.A (Silver […]