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Allan Harris
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After practicing law for way too long, I moved my family to the beach (Kiawah Island, South Carolina) to trade stocks for a living. After making and blowing a fortune in the technology bubble of the 1990's (and then again in 2006-08), I discovered the art and science of trend following. In... More
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  • Leverage Silver Nearing A Buy Signal 2 comments
    Feb 23, 2014 2:38 PM | about stocks: AGQ, SLV, GLD

    (click to enlarge) A weekly close above $79.15 will reverse AGQ from SHORT to LONG.

    Stocks: AGQ, SLV, GLD
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  • Quantum Profit
    , contributor
    Comments (2540) | Send Message
    Allan AGQ is an exciting product. I think it would of been great early February until last Friday as I am under the impression that Silver is showing signs of being overbought and having weaker volume and that new Down trend for Silver starts today Feb 24th for awhile so tread with caution.
    Caveat Emptor…Buyer Beware!
    24 Feb 2014, 08:17 AM Reply Like
  • Allan Harris
    , contributor
    Comments (150) | Send Message
    Author’s reply » QP,


    So long as AGQ is above it's trend-reversal line, it is a buy. More importantly, SLV is also above it's trend-reversal line and therefore silver is long. I trade AGQ as a surrogate for SLV signals, thus it would take SLV breaking down through it's trend line for me to reverse short AGQ.


    In other words, with credit deserved to Johnny Cash, "I trade the line."


    24 Feb 2014, 09:33 AM Reply Like
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