possible topping on silver

slv looks to be a possible top.

will long mar 32/30P vertical after market opens tomorrow

 

how does it look to be topping

 

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+

 

difficult to properly gauge action on/near expiry days.

 

Similarly with the other ~21 market days each month too.

 

I love how people make random top or bottom calls, without ever explaining what strategy or method the call derives from.

 

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.

 

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.

 

Na silver has a little bit left to go. Next resistance at $35, followed by $40.

 

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.