Silver….Close but no Cigar!

Posted by Chris Kimble on 03/16/2011 at 7:35 am; This entry is filed under silver.

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Game Plan...Remain owning Silver ETF SLV and will harvest the position on a support line break.  Silver actually tested its support line at (2) yesterday and so far it looks to have held.  Too early to tell, yet could be a good sign.

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2 Comments

  1. stemphos March 16th, 2011 at 9:17 am

    Hi Chris,

    I am with you until the end on SLV (although I was tempted to exit before yesterday. Thanks for the insight.

    On another note, how does SMN look to you?

    It did not rally the last few days during the downtrend. I am afraid that the Japan crisis will elevate basic material demand and send SMN in a free fall.

    Thanks,
    Aaron

  2. Chris Kimble March 16th, 2011 at 9:55 am

    Aaron…The relative strenght of copper and basic materials the last few days has been impressive. I have been looking for relative weakness in that area and right now it is NOT HAPPENING! This pust the SMN position in danger.