Courtesy of Read the Ticker.
Time to review an ETF that looked like a starter for 10, so far it is acting well.
Previous Post: This chart shows a extreme sell down, time to watch this security daily
Silver like gold is a currency. Has been for 2,000 years. Silver and gold have attracted attention as paper currencies are jumping up and down scaring the folk, add to this the great crude oil sell off has mostly likely completed the largest part of its fall (not saying it has bottom, just saying the fast and hard part is over). Maybe the folks are waking up to the Central Bank Play book and are seeking a hedge. (Disclosure, yip we are!)
The char below shows price has reacted to the extreme outer channel, a little short covering, sure. Now we see if the short covering rolls into more serious bullish position taking.
So far SLV is acting well against channel support.
The SLV very long term chart…
The less manipulated and more true stock market the Russell 2000 index is hard up against the blue solid channel upper line, the longer it takes to FAIL to break out higher the more likely it will break lower to test the bull trend story. Yet, we suspect stocks with test higher prices soon.
Investing Quotes…
..“It cost me millions to learn that another dangerous enemy to a trader is his susceptibility to the urgings of a magnetic personality when plausibly expressed by a brilliant mind.”… ~ Jesse Livermore
"Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas."
~ Nobel Laureate for Economics Paul Samuelson
