Has SLV Bottomed?

Discussion in 'ETFs' started by cactiman, Jul 16, 2013.

  1. Long Term Trade: Bought +1 SLV 100 JAN 15 17 CALL
     
  2. another catch the knife thread like your last apple thread?
     
  3. i will admit i may be confusing you with some other person. but i dont feel like going back through posts and searching. were you the one buying apple calls from 700 to 450?
     
  4. Yes, that was me. Not good to fall in love with a company and argue about fundamentals while it keeps on falling - can be very expensive.
    But I've made more money trading AAPL than I've lost over the years, so can't really complain.
    The best traders back then didn't wait for it to "make sense", and just got out when AAPL fell through 650...
     
  5. SLV and GLD are still bearish in a long run.

    I would not bother buying it until I see volumes on GLD that would be at least close to the volume we saw in August 2011. "Big Guys" dumped a lot of shares at that time and they are still not coming back. When you see nice volume on the price downside that would mean the low price attracts "Big Guys" and they are buying and they will push the price up from that time.
     
  6. You can see the odd down-volume spikes here, especially when there were big dumps in April and June.
    All the gold/silver "bugs" are claiming those to be the final capitulations before the short squeezes begin in September.
    We'll see.

    A couple of up-volume days on May 20 and June 28 attempted to put the brakes on the downtrend.
    The one in May was unsuccessful.
    Time will tell if 17.75 can now hold as a bottom.
     
  7. [​IMG]
     
  8. Cool chart and good info. Thanks.
     
  9. ===============
    3 year weekly chart is bullish/uptrend;
    3 week chart is bullish/uptrend, also.$17.76[area] has held for 3 years, 17.76[area] has held for past 3 weeks also_One year candle chart is bearish/ downtrend; most all trends are up- not a prediction.

    These are cash silver, + silver futures prices/volume month , so SLV could go down some more......:cool: Dont know about your money flow chart ; i study price + volume for trends. Wisdom is profitable to direct.==================================Thanks.
     
  10. Would you be willing to go into a precious metal dealer's shop and buy silver bars?
     
    #10     Jul 26, 2013