Saturday, December 31, 2011

Stop Movement on GLL, SLV, EUO

Move the GTC buy stop on SLV down to 31.47.  This continues to develop nicely, and another big payoff is likely ahead yet.  I think this will make a big nose dive in the next few weeks/months, and then I think the odds favor a choppy longer lasting bear market, but I have intention of holding through that type of environment.  So my intention is really to stay in for the next big move down, and then cover the trade.

Move the GTC sell stop on GLL up to 15.94.  Gold has made a nice move since our entry, but as with silver, I believe the bigger payoff is still in the weeks ahead.

Place a GTC sell stop on the open EUO trade at 18.68.  This is a 2x inverse Euro ETF, so it will move up as the US Dollar gains, and the Euro falls (and commodities fall also).

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