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Author	Replies: 10 / Views: 2,057
Ceylon62 Pillar of the Community United States 1285 Posts	Posted 05/03/2011 07:07 am Anyone here following the technical's on silver? I am using the SLV (ETF) and the price between the two (Cash VS ETF) is about $1 to $1.50 I see initial support at 36 to 38 and then at 27 to 30. Interestingly both these price points are at about the 50 and 200 day moving average The long term weekly support is around 20 to 24 (breakout area) depending on how far back you take the weekly's. Also the RSI...How much does it need to unwind? This was at an all time high about a week ago. The volume on the slv is just nuts. It used to trade about 25 mil a day and we are doing that in the 1st hour. To me it looks like the daily's were violated yesterday. This was the run / trend line that started at the end of Jan 2011. Be hedged. Report this Post to the Staff

General Tso Valued Member United States 341 Posts	Posted 05/03/2011 11:07 am vvvvvVVVVVVAAAAARRRRRRROOOOOOOOOOOOMMMMMMMMMMmmmmmmmm .......................................................................................................................... Report this Post to the Staff
hockingzig Pillar of the Community United States 1450 Posts	Posted 05/03/2011 11:43 am I am not a technical chart guy! I try to watch the whole picture and see what is causing moves rather that rely on what a chart tells you. That being said,this appears to be a shakeout of the recent "casino" investors. After this episodes the weak hands will be gone from the recent run-up(which is why I didn't buy into the last rally)and prices will rise again in an orderly manner. Report this Post to the Staff
carmykle Pillar of the Community United States 2448 Posts	Posted 05/03/2011 1:24 pm I'm not either but believe the support is 41 with break out at below that. Long term might be in the 30s if it does break out. Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 05/03/2011 2:13 pm Quote: I am not a technical chart guy! I try to watch the whole picture and see what is causing moves rather that rely on what a chart tells you. with this. It always seems to me that over-use of charts is a lot like driving by looking in the rear view mirror... possible but not recommended! Report this Post to the Staff
Ceylon62 Pillar of the Community United States 1285 Posts	Posted 05/04/2011 07:59 am Overuse of charts -- *seriously* I do NOT see anyone on this forum bring this topic (charting / technical analysis). Objects in the mirror are a lot closer than they appear. Be Hedged Report this Post to the Staff
hockingzig Pillar of the Community United States 1450 Posts	Posted 05/04/2011 08:32 am Ceylon,I think EdB's comment was referring to "analysts",not so much this forum. Speaking for myself,I have said often on this forum that I am not a "sophisticated" investor,meaning I get lost in the terminology and analysis so it only muddies the waters for me. I try to understand what is driving things now and go from there. I watch CNBC almost everyday and to be honest,the technicals guys have been wrong more than right this time around because some underlying economic differences have changed the landscape this time around so some of the analysis based on past performance is not accurate. I can appreciate the trends that charts show but the big picture and my "gut" have served me well the last 8 years. I do need to develop a better understanding of chart analysis,can you point me to a good tutorial starting point? Report this Post to the Staff
Ceylon62 Pillar of the Community United States 1285 Posts	Posted 05/05/2011 06:39 am Stockcharts (one word add dot com) has some useful tools and info. Most of the online trading sites have info / tutorials for account holders as well. Yes, some who show up on tv get it wrong but in extreme situations like what you had going on with silver it is just a matter of days before things blow off. As a general rule stocks etc do not cross their all time high on the first or 2nd attempt, and it takes a while. Best is to follow charts on the things you own / interest you. Edited by Ceylon62 05/05/2011 06:41 am Report this Post to the Staff
hockingzig Pillar of the Community United States 1450 Posts	Posted 05/05/2011 10:22 am Thanks Ceylon,I will give it a look. You can never have TOO MUCH info. Report this Post to the Staff
biggfredd Rest in Peace United States 9104 Posts	Posted 05/08/2011 8:02 pm Quote: You can never have TOO MUCH info. Sure you can. Ever hear of paralysis by analysis? Report this Post to the Staff
carmykle Pillar of the Community United States 2448 Posts	Posted 05/12/2011 1:56 pm Yes and I still like that saying. Report this Post to the Staff
	Replies: 10 / Views: 2,057

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