Friday, May 6, 2011

Day trading course Silver Sell the Rumor?

Day trading course Silver and selling the rumor.  Day traders have been playing an interesting cash flow from paper SLV etf to Physical.  As we are watching the whole market basically changing hands as the Margin requirements have been changed and rumors fly on new requirements that could come out this week.......Sounds like bull, the market feeds on this type of Drama.  It also seems Market Makers have used their savvy to have $25 puts on slv making a 7 fold profit in just a few weeks.  Probably one of the best calls of the year, but I don't think we are going to see anyone step up for the curtain call. [caption id="attachment_3751" align="alignleft" width="290" caption="Day trading course Silver day trading tips"]Day trading course Silver on the bottom[/caption] You can see the major down trend and the small buys that have delayed our train for a few hours.  Support is in at 34.00 with a low of $33.02.  The pattern gave us a nice reversal to 36.20 which is a $3.00 stop.  Took it out and looks like they will use this head fake to make another run on stops at 34.20 and below. This would give us an inverted Head and shoulders but probably won't execute in to the close. Expecting a low volume close. Who would hold into this with the possibility of a gap down and then rally next week?  

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