I plan on selling my long between 22.50 and 22.84, likely buy back in Monday, Wave 2 (21.73 to 20.33) was fairly long, Wave 4 retrace (after 22.84 ) may be expected to be short and shallow in comparison. no lower than 21.73
SMA 100 and 200 day are $22.63 and $22.91 and may prove to be resistance in this near term up move supporting Sharpie's sell numbers. I am sure there will be ups and downs, but over the last two days, I have taken a small position in at the money SLW Jan 2016 LEAPs as well as a couple other major PM miners. While I am not 100% convinced, I am getting the feeling that the worm has turned with respect to PM trading direction. I have been making spending money writing weekly puts on SLW and selling calls when the stock is put to me.
About the time I post a favorable missive, the fiat powers will likely have a take down heyday. However, it seems the recent take downs have been of less amplitude over shorter periods and rapidly met with increased purchases, suggesting the fiat powers are losing some price control. It is almost like they are trying to manage the price increase. It is a sad testimony that the federal reserve has to price fix PM's to maintain credibility after their incredulous policy moves of the past ten or twenty years.