3rd Oct 2011–Biting the Silver Bullet

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
16.50				15.80

 

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

 

1. Price seems to hold pretty well at the intraday 20MA and 50MA line.
2. Daily chart shows that the price has retrace back to 200MA line.

 

Lesson Learnt:

 

1. It seems like GLD and SLV are trending the same direction as indexes recently. However, the trend might reverse anytime.
2. After entry, GLD still hold on. So play close attention to this ETF. Watch where it gaps on Monday.

 

Intraday Chart

Historical Chart