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Aggressive Long Trade Setup On SLV

 
Presented by  Nick Santiago December 29, 2011 09:32PM Eastern Time



Today, the SLV made a bullish piercing pattern from a very oversold and extended condition. The head & shoulders top that triggered on December 13, 2011 also reached its target today. The SLV is a very good bounce candidate from this level. Please understand that this is a counter trend trade as the SLV is trading below all of the major moving averages. Traders should take a small position when playing these counter trend bounces and always obey the stop loss.

*** The InTheMoneyStocks rule is to never allocate more than 10 percent of the swing trading account in any one position.

  • 2011-12-29 20:49:46
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