1st Aug 2011–A silver lining between right and wrong.

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
13.37				12.89

 

Reason for Buy / Sell / Sell Short / Buy Back:

 

1. GLD has just nice touches the top part of its trend line. In fact a very safe spot to Short GLD.
2. GLD Intraday start showing weakness in its intraday chart.
3. SLV reached its previous high of 40.5 and it start to show weakness in its daily chart.
4. SLV intraday showed that it started to poke down thru the 20MA and 50MA lines.
5. ZSL formed a double bottom formation.

 

Lesson Learnt:

 

1. Need to watch the move of GLD to trade SLV or ZSL.
2. Be very patient to wait for the safest entry. GLD and SLV are very tough commodity to play with.
3. The Obama success in the debt ceiling seems to crush the GLD advance right on time.
4. Be ready to get rid of the holding at anytime.

 

Intraday Chart

Historical Chart