Comments: S&P 500 looks like it may be at very tough resistance. A bearish wedge is forming, with a negative RSI divergence, with strong lateral resistance right there as well. It's not a sure bet, but shorting the S&P500 might be a pretty decent bet. I added some SH (the new short S&P500 bear ETF) in the amount of 4% of my portfolio, to complement the 96% PM Exposure. Good risk to reward on this trade. In fact, I can't help but wonder if I just caught the very top of the 3 year US Equities bull right here with this short.
Comments: SLV, the Silver ETF, is bouncing from 1 year trendline support. Target might be $12, which was the beginning of a gap on the weekly chart.
Comments: Looks like USGL is trying to bounce as suggested a few days ago. Target may be $5.50 to $6.00, where USGL would fill a recent gap down.
Comments: Despite VGZ's nice 6% rise today, VGZ still needs to get back above $9.80 to regain the broken uptrendline. Wonder when they're planning to spin off those Nevada properties. If you know the time table for that, leave a comment below. Thanks.
Comments: SA still strong. 1 Year uptrend alive and well judging by today's spectacular 9.26% rise.
Want me to put up a chart of a precious or base metal company? Contact me by writing a comment below or by e-mail.
1 comment:
Great stuff! I read your blog daily. I didn't even know SH existed, but thanks for the tip -- I've been looking for a vehicle like this for my non-margin account.
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