possible topping on silver

Discussion in 'Options' started by newguy05, Feb 22, 2011.

  1. slv looks to be a possible top.

    will long mar 32/30P vertical after market opens tomorrow
  2. how does it look to be topping
  3. S2007S


    I was looking to jump in on ZSL but I dont know how much more upside is left, any more problems and it could run to 40+
  4. Tsing Tao

    Tsing Tao

    difficult to properly gauge action on/near expiry days.
  5. Similarly with the other ~21 market days each month too. :(
  6. I love how people make random top or bottom calls, without ever explaining what strategy or method the call derives from.
  7. very small position given the uncertainty and uup (close to a strong support), will add if 33.5+

    + BOT 10 SLV true MAR 18 '11 - 30 + 32 Put Bear Spread .643 09:41:19 14.29 null

    Silver is not just a safety metal like gold, it's also a real commodity used by the economies.

    I love you too.
  8. I own some zsl so I am short too but honestly besides some flimsy resistance at 34 I don't see any weakness on price. I am betting that the market can take some wind out of silver like in prior corrections but without seeming paranoid I DO think this time is different since people are no longer buying dollars for protection. I have a stop at the upper channel of the weekly channel. Above that there is no top as it would signal to me that there is a real dollar crisis ensuing and silver could be worth many times it's current price.

    I would also like to know why u think a top has happened and I hope it's not an overbought oscillator since in the case of silver they r completely useless in this rally.
  9. Na silver has a little bit left to go. Next resistance at $35, followed by $40.
  10. Today seems to be to be the day to roll to the next contract as March is no longer tradeable (at least @ IB).

    From what I can tell May has the next best volume ... can anyone confirm that? - thanks.
    #10     Feb 24, 2011