djn21's  Instablog

Send Message
First off, I view the entire monetary and financial system as something of a Ponzi scheme. Starting with currency that is debt, and running straight though a global economic model that is based on a premise of infinite growth in a finite world. This won't end well. I'd go a step further and... More
My company:
New Power Media
My blog:
Playing the Ponzi
  • SLV and USO pullback 0 comments
    Apr 11, 2011 3:02 PM | about stocks: SLV, AGQ, USO

    Very hard pullbacks in both SLV and USO today.  SLV is a bearish engulfing candle, so that's not good.  That said, SLV has survived bearish engulfing candles without significant losses earlier in this rally.  I felt terrible about selling my 2x silver (NYSEARCA:AGQ) on Friday given how it'd rallied on Friday and in pre-market today... but I don't feel so bad now.  I am interested in re-adding AGQ around $245.

    SLV has pulled back to the trendline that I noted a few days ago.  I'll be curious to see what it means.  I am not adding here since I am already pretty heavily exposed, though I will add on a pullback closer to the 20 EMA.  A break under that trendline would also be where I'd take profits.

    Oil (NYSEARCA:USO) is also pulling back in a big way today.  It is getting very close to the original breakout point, where I'd be interested in adding.  I would have a pretty tight stop under that trendline.

    Stocks: SLV, AGQ, USO
Back To djn21'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


  • Added DBA yesterday as it appears to have bullish broken above its recent downtrend resistance.
    Jul 14, 2011
  • Euro and USD each testing key technical trendlines today. See if the US Dollar rally will have longer term legs...
    Jul 14, 2011
  • Sad but true, Archman
    Jul 13, 2011
More »

Latest Comments

Most Commented
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.