Wednesday, August 18, 2010

Goold, I loooove Goold…but I like SILVER now

Not much into precious metals (except for making Birthday presents to all relatives and friend in American Silver Eagles – they call me crazy behind my back), but /SI (ETF SLV) looks suspiciously good on the long side.

2010-08-18_1933  2010-08-18_1934

Following up on post as of August 11th

Nat gas did go to 133 line, we'll see what happens next.  I added up another ugly channel (descending from the far left of the chart – why I did that – have no idea, but looks pretty)
As for broader market – I have no opinion now, I am in the watch mode, that short prediction around August 6th Time Series was the last high probability trade.  I am not messing with trades based on daily chart for now.

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