Market Scheming

Monday, August 16, 2010

Trip to BC, Update on all positions and call for silver

With exams and traveling to bc over, i wanted to update my positions and silver call.

1) Silver call:



This is to show the triangle and the enviable break out up or down.  




On the Daily chart, the gap up today and it has held off staying in that area.   That gap probably will be filled then a takeoff.  The MACD has a strong uptick over the previous day, The Slow stoch has crossed over, and it is not over bought.The volume is up for the day as well. All moving averages are below the price, and the 38.2% retracement.




So I think a pop is pretty close some time this week if it breaks out of the triangle the price could go up to about the 18.39 mark, then to the 19.41.  


look at todays action: 




2) Ford update, the B wave called in previous posts is coming to an end.  The drop in the markets provided this drop, so a target in and around 8.05- 9.50








3) silver plays and entries




AXR entry 3.23, looks like it could pop up and over that 200 MA any day.  IT just broke out of that triangle and if it can hold that we could get to about 3.50 - 3.65, then a test of the 4.00 mark. 






FR entry 4.15, and a 6% gain so far today.  a break of the 4.50ish area could be very bullish.








BEWARE.... Options expiration week, I expect crazy volatility.   

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