Because I hate analyzing SLV which is manipulated from every direction and because there isn't any overwhelmingly strong signals for longer term trade, I said
"If you are very nimble with good risk management skills, SLV/Silver looks like it's a quick long play, I mean quick, like dead cat"
SLV is up over 2% today and about +2.5% since the post.
Honestly the trade idea was based on 1 chart that had a high probability move short term as described in the original post, that high probability signal is no longer there. I'm not saying the trade is done, just I no longer see any reason or edge in the trade.
Friday SLV has a nice strong leading positive divergence, perfect for a leveraged trade. Today it's in line so there's no edge today like there was Friday. I wouldn't enter SLV today so I see no reason why I would hold it.
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