Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Silver Prices
Silver Price
[Most Recent Quotes from www.kitco.com] Our RSS Feed

Silver Updates by Mail

Enter your email address:

Follow Us on Twitter
« Silver Standard: BUY | Main | Silver Prices Fall: Hard and Fast »
Monday
Aug202007

A Trading Opportunity in Silver: BUY

We are hereby giving a BUY signal on silver, for a short term upwards move of $1.00 from its current level. We expect silver to move up to nearer its 50 and 200 day day moving averages in the next week, possibly the next few weeks.

A Trading Opportunity in Silver: BUY


In previous articles, we have talked about the reasons why we thought silver is looking very bullish at the moment. We watched the drop to $11.06 in trading on Thursday but we wanted signs that the drop was over, or nearly over so we could be confident that the future downside was limited.

However, having watched silver trading in Sydney and Hong Kong overnight, we are confident that the future downside is limited so we are signalling a BUY on silver bullion.

We have placed a financial spreadbet on the December 2007 contracts for silver, on the London market, at the futures price of $12.15/ounce. We have a stop at $11.15 and a limit at $13.15. Therefore if silver falls one dollar, we are automatically stopped out and lose all our capital that was invested in this bet. If silver prices rise one dollar, we will double the capital invested in the trade.

Short term trading is not for everyone but we have signalled this BUY for our readers who feel comfortable with the time frame and risks associated with these type of trades. Subscribe to The FREE Silver Prices Newsletter to stay updated on the silver market.

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>