I sold all my longs after waiting for soooo long and have shorted slw at 22.3.....Please give me some TA on direction of SLW. whether to just cover my shorts, take a loss, and go long? I even regretfully sold all my Mar 24 calls mid day yesterday :(
Unforturnately just before Kazans reply!
Would really appreciate some analysis here. Thanks always, Sami
I believe the long term trend is up for PM's and PM stocks. If you short into the trend, you swim into the current and have a built in disadvantage. What I do if I believe a stock has run up ahead of its trend is to buy puts. That way if the stock keeps running, you have defined your loss and if you hold the stock, you continue to participate in the gains. As for what to do now, that is your decision ultimately as it is your resources at risk. I wish you good trading decisions.
Since I trade options, anytime I say short, I mean PUTS. Still short. Silver futures took all night to make a sideways ii , just fell 10 cents to get back in line with the retrace. last 20.02. sami, cowboy and I posted near the end of day yesterday, 22.50 / 22.35, then a three day run up to 25.25 was my guess