{"id":13238,"date":"2011-05-04T12:33:00","date_gmt":"2011-05-04T16:33:00","guid":{"rendered":"http:\/\/www.thedisciplinedinvestor.com\/blog\/?p=13238"},"modified":"2016-09-20T08:43:28","modified_gmt":"2016-09-20T12:43:28","slug":"you-will-not-believe-it-time-to-trade-silver-slv-long","status":"publish","type":"post","link":"https:\/\/thedisciplinedinvestor.com\/blog\/2011\/05\/04\/you-will-not-believe-it-time-to-trade-silver-slv-long\/","title":{"rendered":"You Will Not Believe It: Time to Trade Silver (SLV) LONG?"},"content":{"rendered":"

Over the past few weeks we have been writing about the potential for silver to see a sharp correction. It has now fallen precipitously from the high of $49 to where it is now, approaching $39. (A 20% drop)<\/p>\n

We have done well with the short position in ZSL, and now with a support point for Silver, we just closed it out late this morning.<\/p>\n

The chart below shows a simple technical structure that we have been eying for a bounce. That said, if the price can hold the range of $39.. to $39.50 then there is a good risk\/reward scenario setup for a “Swing” long entry.<\/p>\n

*** NOTE: This position can be very volatile, especially with the panic buying and selling that we are seeing during the past few weeks. ****<\/em><\/p>\n

(Click to Enlarge)<\/strong><\/em><\/p>\n

\"\"<\/a><\/p>\n

The Proshares 2X Silver (AGQ) is the ETF we just entered for H&C TDI client accounts<\/strong><\/a>. The plan is to hold it if Silver can continue to bounce off of support. If successful, there is a short cover\/squeeze that could be seen during the day.<\/p>\n

If, by the end of the day (or in the next few days) the price cannot hold, the next level to the downside is $37. The U.S. dollar will play a role in this and the panic selling will also have to end before a relief rally can occur. Right now it is looking very tight and a bounce is going to come at these levels or the breakdown will be fast. We are betting that holders will keep the position from falling too far below the 50-day MA, for now.<\/p>\n

(Click to enlarge)<\/em><\/p>\n

\"\"<\/a><\/p>\n

 <\/p>\n


\n<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Over the past few weeks we have been writing about the potential for silver to see a sharp correction. It has now fallen precipitously from the high of $49 to where it is now, approaching $39. (A 20% drop) We have done well with the short position in ZSL, and now with a support point […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[224,12],"tags":[286,483],"class_list":["post-13238","post","type-post","status-publish","format-standard","hentry","category-long-ideas","category-markets","tag-commodities","tag-markets","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"acf":[],"_links":{"self":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/13238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/comments?post=13238"}],"version-history":[{"count":0,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/13238\/revisions"}],"wp:attachment":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/media?parent=13238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/categories?post=13238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/tags?post=13238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}