SLV Speculative Long Position- Aug. 2nd $19 Call

After looking at liquidity, this is what I came up with, I'd prefer some more time, but...

I already have some July $19 SLV and I hope they do better, but right now they are pretty far from breaking even, but the position size was small enough that I can add, rather I'll open a new position, again speculative in size because this is a speculative position, but it looks really interesting here.

If you like the idea, but don't like options or maybe just don't want that much leverage, you might consider AGQ long (2x long silver) or just SLV long.

Honestly, SLW (Silver Wheaton) as a long equity looks pretty darn good as well.

Here are a few charts.

 SLV 2 min, it's not just the divergence, it's the tight range that is getting tighter as we go. If I were really going to have very high standards and be willing to completely miss the opportunity, you could wait and look for a head fake move below the range since it is so defined. I don't have the time to watch 1 stock all day for the perfect entry when I'm trying to put together the details of a market transition.

SLV 10 min with a positive in June (remember that) a leading negative at the top, that's a very clear distribution signal, a head fake in yellow the day before the drop (this is what I mean about these head fake moves, they are so frequent, but notice it is proportionate to the timeframe, it's not an intraday head fake move on a 10 min chart. As I often say, the market is fractal in its behavior.

Note the recent positive and don't forget June

 SLV 15 min, looking at a bigger picture, this looks a lot more like a "W" bottom, implying a much larger and stronger base than what we've seen above thus far. That means (if it is indeed what I think), that this base could support 1 heck of an upside move and the July SLV calls would most likely not only break-even, but be at a nice gain.

 SLV 30 min leading positive, this makes an even stronger case for a larger base.

AGQ (2x long Silver) ETF and the tight intraday range, 1 min leading positive.

 5 min leading positive

10 min with two areas again

30 min leading positive also showing the same "W" bottom as SLV.

SLW as I said looks good too, I will look at the equity tracking portfolio and if I have a place, I may put SLW in there.

SLW 30 min leading positive divergence.

I like pure equity positions like this if I think there's a good chance for a trend, they can ride them out with a lot less draw-down which is nice for someone who doesn't have time to watch the market all the time or is more of a trend trade.

Risk management rules still must apply to take advantage of not using leverage to ride out the bumps and dips, it does no good if you but 30-40% of your portfolio in one stock like this as you will have drawdown even on normal moves that will be emotionally challenging to hold a position even when it is acting normally.