Silver should run into resistance at 33.675, just below last week's high, but if the bulls can dispatch both of those levels, $35 comes into play with a "D" target at 34.985. With the silver market, we go three-for-three in using last Wednesday's low as the A point for our pattern. It must be said […] Read More
We hold a single contract with an effective cost basis of 1708.00. A trailing stop would have gone into effect on a rally to 1770.00, but because the last upthrust fell $3 shy of that target, we've taken a $45 ride south on a fixed stop. This was unpleasant but consistent with our intention of […] Read More
We will watch a 1281.75 hidden pivot in the S&P futures, with an eye to shorting the market. Last week's strong rally has not retraced deeply, but a one-off A from Wednesday (1183.00) and Friday's decline give us something to work with. The 1281.75 midpoint is less than eight points below the three-month high of […] Read More
Last week’s 900-point Dow rally may have stirred up some bullish excitement on the Street and at CNBC, but it looked to us like a fat pitch for anyone who’s been waiting patiently to get short. We’ll be looking to do so ourselves next week -- with as little risk and stress as possible, using […] Read More
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