InTheMoneyStock...'s  Instablog

InTheMoneyStocks.com
Send Message
InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype... More
My company:
InTheMoneyStocks.com
My blog:
Pro Traders Rant and Rave Blog
  • Where To Buy: Precious Metals Collapse 0 comments
    Sep 23, 2011 2:05 PM | about stocks: GLD, SLV, FCX, AUY

    Precious metals have crashed today. The SPDR Gold Trust (ETF) (NYSE:GLD), is trading at $160.45, -8.60 (-5.09%) and the iShares Silver Trust (ETF) (NYSE:SLV) is trading at $29.79, -5.13 (-14.69%). In the last few days, silver has collapsed more than 25%. This fall was long overdue as amateur investors had been buying these metals up recklessly.

    The buy level for these two metals in the short term is right in the current area. The GLD hit major support at $159.50 and the SLV at $29.50. Both these levels were triggered. While a sharp bounce will come in, be extra careful. It will not last long and both these metals will head lower.

    Gareth Soloway
    InTheMoneyStocks.com


    Stocks: GLD, SLV, FCX, AUY
Back To InTheMoneyStocks.com's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • Utility #stocks leading markets higher despite slightly higher yields in the 10-year U.S. #Treasury. $SO, $ED, $XLU all higher today.
    Apr 20, 2015
  • $YELP Forming Bearish Chart.... http://bit.ly/YelpChart
    Apr 13, 2015
  • $WMT bearish base, daily 200-day ma. Should drop to the $78.00 level & present a good entry level to buy the stock. http://bit.ly/WMTAlert
    Apr 10, 2015
More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.