Friday, August 5, 2011

SLV Re-entry

Short SLV GTC with a limit order of 37.61 and a buy stop to cover at 41.20 after entry.
The reward to risk is still about 3:1 given the 26.00 area target. I am buying Oct 34 strike put options as well on SLV with no stop loss on the options. Given the target area there is possibility of 300-400% gain on the options so that ratio is good enough.

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