Thursday, December 30, 2010

New SLV high

Good night

Silver hit today a new year high at 30.08 (SLV value). This shows that a very strong uptrend is underway, in spite of the close in red at 29.76. Let's "look at the trailer":

Trend follower trigger is at 29.18, so be careful. MACD turned into positive ground today and this is an important sign. I just don't like the close below the upper bollinger band line. Short term momentum is also a little bit overbought.

You have a nice 2011!

Wednesday, December 29, 2010

Keep tracking it


It's almost the end of 2010 and Silver is hot...very hot. The last short term bull move is being developed after yesterday's push up.

Technicals are pointing up and MACD is almost in positive territory. I consider this event to be very important for the next few days. It may mark a healthy bull move if goes positive; if not, it will be a failed one.

Nevertheless, I'm relying mostly on my trend following model:

The current stop trigger is at 28.58. Keep this value close to you and use it to profit with it.

Monday, December 6, 2010

Freakin' bubble

Silver is starting to look like a freakin' bubble.

See for yourself the chart that doubled since February/2010:

I believe this uptrend is about to give up and correct during some time. Tomorrow may mark the next top for silver, although I don't see clear negative divergences, neither exhaustion (but still in overbought zone).

Maybe it's time to start thinking on collect from this market, before going short (with careful!).