Wednesday, August 31, 2011

Silver/SLV/AGQ

Yesterday I posted AGQ as a trade I liked, I mentioned correlations in GLD, I'm also wondering about them in SLV. Thus far this morning, I DO NOT like the short term action in silver.
 This leading positive 15 min chart is what I really liked about SLV, you can see there's a dip this am on the chart.

 The 10 min chart is pretty much in line with the trend.

 But the 5 min above and 1 min below are looking pretty negative. Out of an abundance of caution, I'm pulling the long trade on SLV/AGQ

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