SLV

Yesterday I had some nice gains from the SLV and NUGT Call positions opened Friday, however rather than take them (they are August expiration), I posted pretty early on that I'd be keeping them all as open positions.

"Repeating my basic position, I'm keeping all PM and miner long/call positions open."

I'll be getting to the others, but for now here's SLV and what I see as the big picture.

 Yesterday's range in SLV, whenever they are this quiet and flat, there's almost always something going on as SLV picked up strength in the afternoon. This isn't what I like though and I'm not sure I'll be able to capture it with options, even August...

This 30 min divergence is a clear change in character on an important timeframe.

And it has migrated all the way out to 60 min, in other words although SLV will have it's bumps and dips, it looks like there's quite a bit of fuel in the tank for an upside move.

SI/Silver Futures 5 min chart is pretty much perfectly in line as is the intraday 1 min

And the SI/Silver 60 min Futures chart confirms SLV charts.

Don't get me wrong, if the position looks like it's better served by taking profits and re-opening it after a correction or pullback, I'd pull the trigger in a minute, but for now I feel pretty good with SLV August calls, currently up about 30+%