Saturday, May 14, 2011

STP Update

Silver is probably going to be in a trading range somewhere between 39.5-32.5 for a few weeks (at least) as traders will have to recover from the beating given by Blythe et al. 

Gold has held up remarkably better than Silver, but as you know it didn't go up as much as Silver. I would love to see it be the leader here, will support Silver from going down every day. 

Crude has sold off and eerily similar chart to Silver. Support at the 150dma.

Good place to add to DBA, keeping a stop 5% below the new buy

Dollar seeing strength due to all the problems in Europe, no above the 50dma this will bring in all the technicians and momentum guys should exacerbate commodity selling or dampen rise in the least. 

I am going to open a new position in URA on Monday, as you can see it right at the Fukushima disaster prices. Time to  buy, with stop 5% below.

Long term hold, not adding here, gotta just ride out the negativity. 

Good place to add to MOO, bottom end of range, keep a stop 5% below the buy price.



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