Wednesday, September 28, 2011

Clarification on SLV

For clarification, a couple posts ago I had said to place a GTC buy stop on SLV at 36.50. I should have said "move" the buy stop to 36.50. That was only intended for the open SLV short trade. It is not a new trade recommendation to go long silver.

So that stop is a couple cents above the high of the breakout/breakdown bar on SLV that closes below the lower bollinger bands with the bands expanding. That should allow a lot of play room for SLV, and still have a small profit locked into the trade now.

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