Thursday, May 12, 2011

Exit the SLV Short Trade

Click on Chart to Enlarge

I am recommending exiting the short on SLV immediately today. There is a powerful bullish divergence on the hourly chart couple with a reversal from below a prior chart support. With the move being so dramatic and large, I think there may be some consolidation for a period even if the trend continues down.

Trade Action:

Exit the SLV trade today with a market order. The blog exit is 33.45 at the time of this posting

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