Friday, August 9, 2013

Silver $20 Put Follow Up

I said last night I think both SLV and GLD can rally again, but first they need a pullback and that Silver will probably get hit harder and GLD probably rally harder the next time.

Here are the SLV charts, remember I'm not treating this as a swing trade or anything else, it's a quick move to the downside I'm looking for.

 SLV 5 min chart

SLV 3 min from the accumulation for the move to distribution in to the move.

Futures
 The 15 min SI futures- negative

And the 1 min intraday the same, I'd take the SLV put right now if I hadn't already

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