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Thursday, May 5, 2011

Day trading course Silver Bottom pickers could be slaughtered.

Day trading course Silver Bottom pickers could be slaughtered.  Remember Silver gets more margin calls than any other commodity and trying to pick the bottom is for investors, not money makers.  Day traders will get squeezed on this if they try and guess where the bottom is.  Wait for a clear turn. [caption id="attachment_3743" align="alignleft" width="300" caption="Day trading course Silver bottoms high risk"]Day trading course Silver bottoms high risk[/caption] Last three days have been a quite volatile move down with some momentum.  We could het a break around 35-36.50 but would not go against a moving train like this one. The support on the 200 MA at 31.00 looks like the extreme low. the Zone between 34-37 will be an area to watch for some consolidation into the close.  Friday will be the tell all as investors again wake up to the price change and think, well now is the time to pick it up, probably in time to see them squeezed again. Buying dips is great, but this is not a dip, it is a short term correction, and waiting for the re establishment of the trend will be easier on your account. Be patient.

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