Friday, June 3, 2011

Silver to Make Leg Lower? (Update) 6:53AM CST 6/3

(Chart 1 - Silver daily zoom)
(Chart 2 - Silver daily)
In this post here yesterday here is what I said silver about going down for the near term.

"Dont sell here if you are conservative
Just keep this in mind for if it breaks lower then comes back up to the blue channel line (6/2)"

3560 is the bottom of the blue up channel
3555 is low of yesterday

We are currently at 3558 at 6:53AM CST

I think its a sell with the current risk and profit and pyramiding discussed in that past post linked above.


  1. Fade that NFP move
    That was a designed bounce before the sell off

    If stocks and oil keep this up, gold and silver cant rally.... Esp w bonds going straight up

    Deflation in full effect

  2. SLV Jun 18 '11 $30 Put
    just bought a small clip at .18