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Spamwich
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Specialty: Technical Analysis My early years were not so rich, I had a poor family, at age 12 I landed my first job as dishwasher for $6/hr, by 14 years old my mother suggested to cut grass around our town for extra money, so with what little money I had, I put into some fliers and a lawnmower.... More
  • $SLV: Reversal Not Yet Convincing 6 comments
    Aug 6, 2014 9:44 AM

    Although a bounce has occurred in my support zone, I'm keeping in mind that silver is range bound and that the downtrend has not yet been broken, on a break of $19.80 it is likely we will see $18.50-$18.80

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  • Gold Dog
    , contributor
    Comments (232) | Send Message
     
    Hi Spamwich l checked SLV on http://bit.ly/MxHgAt and it agrees with you. It said to stay short, it issued that on 24July at $19.96
    I read that silver was supposed to follow gold on its current uptrend.
    Do you know why it isn't?
    Once gold does its big final drop to its final bottom of maybe $1,000, where do you think Silver and SLV will go?
    Do youdo any puts and calls on SLV, if so how hard is it to do, l have never done one, and nervous about doing them?
    9 Aug 2014, 01:50 AM Reply Like
  • Spamwich
    , contributor
    Comments (331) | Send Message
     
    Author’s reply » Hello Gold Dog,

     

    Sorry for my delayed response, I was in the penalty box for roughing ...

     

    GD, If we see a lower low it will be indicative of much lower prices, back to the 2008 lows...

     

    As for the options, they are a double edged sword, you risk losing everything, but you have a greater R/R , these can be used to hedge your physical position in puts, or you "seed" at lines of support , these call options could then be rolled over into fresh call positions once trend change is confirmed, but remember a seed starts of small, then grows into something big.. Personally I will be looking to be long in the $18 range for silver, and I'll be perfectly willing to admit I'm wrong and short on a break of $18...
    13 Aug 2014, 06:28 PM Reply Like
  • Gold Dog
    , contributor
    Comments (232) | Send Message
     
    Check your inbox on Silver
    Glad your out of the penalty box, did you do high sticking , or was it mouthing off at the ref...LOL
    14 Aug 2014, 02:14 AM Reply Like
  • Spamwich
    , contributor
    Comments (331) | Send Message
     
    Author’s reply » Here is an options calculator you may find handy, play around with this for a while and you'll get a grasp of options. http://bit.ly/1pt1LmZ
    13 Aug 2014, 09:30 PM Reply Like
  • Gold Dog
    , contributor
    Comments (232) | Send Message
     
    Thanks for the link Spamwich
    I guess I will have to put away my slide-rule, get a bottle of whiskey out and take a go at figuring out how those options work.
    Never done one before so have no clue what I am doing, thanks for the warning up front that I can lose it all.
    I expect Gold to go to $1350 within days as long as it doesn't drop below 1300 area.
    14 Aug 2014, 02:21 AM Reply Like
  • Spamwich
    , contributor
    Comments (331) | Send Message
     
    Author’s reply » Keep in mind that gold is narrowing in to make its trending move... You will need to be quick on your feet when it does decide to pick a direction.
    15 Aug 2014, 07:55 PM Reply Like
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