SIU09 – Comex September Silver (Last:14.170)

A  midpoint support at 13.720 beckons, and you could bottom-fish there with a stop-loss as tight as three ticks. If it’s hit, though, expect the futures to continue their fall down to at least 13.365.  Alternatively it would take a print at 14.295 to turn the hourly chart bullish. _______ UPDATE (2:52 p.m.) : The futures have trampolined 58 cents from within a penny of the 13.720 midpoint flagged above.  If you caught a ride, profit-taking shouldn’t be much of a problem at this point. If you bought more than one contract, I’d suggest holding a third to a half of the position for scale-out selling, but with a stop-loss suited to your comfort zone. (Note: This tout was originally published as a Side Bet, below.)