Seeking Alpha

Spamwich's  Instablog

Spamwich
Send Message
Specialty: Technical Analysis Name: Michael Payne, CEO of No Payne Roofing Inc. Objective: To share results of technical indications Experience: Relentless market participation since November 2011
My company:
No Payne Roofing Inc
  • $SLV Target Success 5 comments
    Mar 24, 2014 9:22 PM

    Would just like to note that my target region has been met, at this point in time I will be waiting for support to hold ( or not). I've had time constraints and have not been able to post more frequent updates, but I will be monitoring silver the best I can over the next week , this seems a like a critical area for the longer term outlook for silver...

    (click to enlarge)

Back To Spamwich'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 (5)
Track new comments
  • gmanwicksy
    , contributor
    Comments (130) | Send Message
     
    What do you think Spam? Are we going to break lower resistance and headed down significantly now in silver? or do you think we still head down a bit more and bounce up hard from 19 area?
    26 Mar, 09:47 PM Reply Like
  • Spamwich
    , contributor
    Comments (331) | Send Message
     
    Author’s reply » I think this is likely to dip below $19 to about $18.50... $19-$18.50, that is my support range. There has been 3 consecutive lower highs made, while forming what looks to be a descending triangle, from experience these like to break down hard, however I like to assume that support will hold. So that will be an area of wait and see, nice solid area to know your stop loss and entry point...
    27 Mar, 12:42 PM Reply Like
  • Spamwich
    , contributor
    Comments (331) | Send Message
     
    Author’s reply » If we get an impulsive break down of $18 the 2008 lows ($9)may be the next major support/longer term target believe it or not... I do see the $18 support being very important over the longer run , it proved to be significant resistance from 2007-2010, now tested as support, so I'm open to $18 being a very long term bottom assuming it holds, but my indicators are not supporting that right now, sell signals are still fresh under this bearish price structure...
    27 Mar, 02:41 PM Reply Like
  • gmanwicksy
    , contributor
    Comments (130) | Send Message
     
    I am going to keep a small allotment of puts just for that reason. If copper tanked why cant silver and other industrial use metals as major economy China and others shrinks output. There is a lot of mined silver right now so no supply shortage I believe. We are at a crucial price point I think with more of a threat to the downside following coppers lead? if it pops above 19 I will go long for another lower high and if wavers at and then drops below 18.50 then its short city for me. We will see I guess. gl trading to you.
    28 Mar, 07:07 AM Reply Like
  • Spamwich
    , contributor
    Comments (331) | Send Message
     
    Author’s reply » Sounds like you have a solid plan there ! I don't really follow copper, I just focus on the ES and silver, I'm sure you noticed. I'll keep posting my charts for some perspective, I'm sure we are in for a curve ball or two along the way.

     

    GL to you as well!
    28 Mar, 09:18 AM Reply Like
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
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.