Thursday, October 28, 2010

Time to buy silver again!


SLV closed today at 29.43 and triggered a new buy signal. The new sell trigger is positioned at 22.60.

Technically speaking, the SLV chart isn't yet so good as the trend follower points. I see the stochastic near a buy cross, so care must be taken. The RSI shows no negative divergence, which is a very good thing. The MACD has also inverted its course and is now rising again.

Tomorrow will be an important day in order to see if the uptrend is back again.

Take care,

Sunday, October 24, 2010

A glimpse on SLV

SLV (silver) is currently trading in a correction mood. The prices are sitting at the midle line of the standard bollinger band and, for me, this can act as a nice support fot the correction. If it doesn't, then it will probably drop to the lower line of that bollinger band.

The trend follower is now at 23,34. You know the drill...a daily close above this value is a BUY trigger.

Here is the picture:

The weekly chart is showing some will to correct more, but let's wait first for the next week's close.

Take care,

Tuesday, October 19, 2010

And finally...a SELL trigger

Today silver dropped so much that triggered a sell signal on my trend follower. Now, the new buy trigger is set at the 23.88 level.

For now, this is the so awaited correction in silver. I hope this is an healthy correction and that the uptrend will resume soon enough. We have two options here: the first is to believe that this is actually only a correction and, as such, keep the long position; the second one is to follow the system and actually sell SLV now...choose yours!

Thursday, October 14, 2010

Now this is starting to look like a freakin' bubble!

New SLV high today at 24.06, closed at 24.03 and trend follower at 23.16. This is huge and ugly divergences are in the chart...I'm just sticking to my trend follower and you?

Be prepared for a major sell off in the next trading sessions....I told you so!

Wednesday, October 13, 2010

Silver looks unstoppable

Today a new all time high in  SLV @23.50.
My trend follower rose to the 22.60 level.

Take care, ´cause I don't believe this will continue so overbought and with negative divergences for much longer!

Tuesday, October 12, 2010

SLV chart values

Good night, these are the values to take into account right now:

.New SLV high today at 22.98
.Trend follower rose to 22.17, acting as a profit stop loss.

I'm also taking care with RSI negative divergence, MACD dropping and stochastic oscillator completely overbought!

Sunday, October 10, 2010

Silver: Quick Update


I'm writing you all just to say that our trend follower on SLV remains on buy&hold mode. Silver did an impressive day last friday, although not trading higher than last thursday.

22.01 is still the value to watch for a sell trigger.

Thursday, October 7, 2010

Silver follow up


Today silver started its so-awaited pullback. For me this is something like an A wave of an A-B-C correction.
My trend follower didn't triggered a new sell signal, but I bet tomorrow will be the day...22.01 is our value :) I don't believe it will me a major correction...just a minor one in this incredibly bullish wave structure.

Keep your eyes open!

Wednesday, October 6, 2010

22,69 must mean something :P


The SLV ETF ended today's session trading at 22,69...this has to mean something :P

The current chart doesn't say anything besides what I'm about to tell you:

1. Short term indicators are (really) overbought!...this is a condition that can last somedays though...
2. RSI is showing negative divergence. This means a pullback is comming soon..
3. Our trend follower stop limit was updated today to the 22.01 level, so keep this value close to you, cause will allow you to buy again at a lower price.

Tuesday, October 5, 2010

Do you wanna know what a wall of worries is?..

...Then you should take a look at the next chart:

After silver reached new all time highs, now sky is basically the limit! But...take care, negative divergences
are appearing in the daily chart and this may lead to a correction. Luckily we have a trend follower that will
warn us when one may sell. Current trend follower SLV's stop limit value is set at 21,59. Below this value one may think about selling silver, just to have some caution. Then a new buy value will be calculated...

Have fun trading silver 'cause its hot!