Silver Leaving Behind An Ugly Bar And Volume

Just a quick reiteration of my earlier post on silver.  Now on the close we are left with a pretty ugly looking candlestick bar on big volume.  I'm definitely not saying it's a top here, but it is worth noting and I remain short overnight.

Morning Line-Up

Good morning and happy Friday! After a fairly flat broader tape yesterday, we rise this morning to most things, dollar and treasuries aside, trading at higher prices.  The Euro continues its astonishing rally on the back of the rate-hike the other day.  Gold, silver, oil, and stocks are all up solidly ahead of what looks […]

Silver Crash And More…Friday Afternoon Rambles

It's been a seriously tiring week and I for one am ready (and have been for a few hours) to put my keepe in a resting mode for a solid 36 hours at least. The S&P 500 as well asl the rest of the major equity indices had a volatile time to say the least. […]

Silver Wheaton Corp (SLW) Ready To Rally

SLW looks ready to party higher after breaking out above the previous $46 level resistance.  Today's consolidation thus far looks healthy and for me an opportunity to add a little.

One Chart To Sum It All Up

The thing to remember about today's trade is that A) the world is interconnected by the banks and derivatives and B) that many more institutions and individuals these days own multiple asset classes.   Regarding point A, this means that the mortgage default in Florida affects a Swedish bank as much as it could affect […]

Silver (SLV) Coming Into Support Zone

Silver's real parabolic move started at the end of January.  Looking at the below chart I note that the area between $37 and $38 serves as a) the 50% retracement from the low to the high of this move and b) where the 50 day simple moving average comes in.  Both of those items often […]

Friday Morning Market Thoughts

Boom!  Nonfarm payrolls 54k vs 169k concensus expectations.  The futures shaved off a quick 15 points on the back of this and are hovering around the $1295 mark. Yesterday's trade was marked by consolidation, which was to be expected after Wednesday's brutal beating.  As laid out in the morning market video today, we don't see […]

A Look At Silver After Last Night’s Crash

Last night silver futures fell as low as $42.20, about a 10% sell-off.  As of this writing the futures have rallied back up above the $45 mark, but still down over 6% on the day.  See the intraday chart. On the daily chart note the uptrend measured from the end of January is still in […]

We Are Short Silver Again, For A Trade

After scaling out of the short SLV last week for a scratch trade, today we re-entered on the short side.  See the analysis from earlier today here: http://steadytrader.wpengine.com/a-look-at-silver-after-last-nights-crash/ After SLV gapped down this morning we went short on a 50% retracement of the open gap, at 44.98.  Today's earlier low near $43.50 will be target 1 […]

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