Home > Miss Market > Bought SLV and SLW

Bought SLV and SLW


Hi,

I bought SLV and SLW today. Together they represent two units. (SLV at 44.29 and SLW at 39.55).

I bought before the FMOC based on the 60 min bear to bull cycle for SLV. Now that I look back the ideal buy was around 12 by looking at 15 min for Silver. Anyway, my entry was good, but the base trigger for it was not great.  I got lucky so to speak. I planed for it from Yesterday and this is all that counts.

If we have another samll correction in the next 2 days I will try to get in Gold as well. I am not sure what is a better instrument, GLD or a miner leader. I am studying.

Good luck…

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Categories: Miss Market
  1. john-b
    April 27, 2011 at 5:48 PM

    Thanks Vali. The 60 min SLV chart showed selling was decreasing and the 60 min bear cycle was dying last night. I checked at noon today and the 60 min bear cycle had bottomed and started up. So I bought 4 units of SLV. Then as we know volume trends can lead price trends, I check in another hour and the price was up 1 dollar from my buy and then went up almost another dollar by close. So maybe that was all the correction needed to reset SLV futures and get another attempt to break above 50.

    I may load more units of SLV depending on situation. Wait for break above 50 most likely.

    My fifth mechanical VTA trigger is about to fire – maybe tomorrow. If it does I will have to decide when to put the money in as we may be getting closer to a small wave 2 correction. If it triggers early in the morning, and I have a dip I will likely put half of it in then.

    So I am 70% in long the indexes with my equity money and 4 units of silver from the PM money.

  2. Eitan
    April 28, 2011 at 11:45 AM

    Hi Valy

    I am new to your Blog and I find it very usefull, thank a lot

    May I have a question pls:

    What is FMOC ?

    Also I am confused between the indexes “GOLD” and the ETF “GLD” {in marketvolume}
    What is the difference between them?

    and last thing, what does it mean “Miner Leaders” instrument

    Thnx – Eitan

    • VolumeTrends
      April 28, 2011 at 1:14 PM

      Hi Eitan,

      Welcome to the blog.
      FMOC, I wanted to say FOMC: “http://www.federalreserve.gov/monetarypolicy/fomc.htm”
      GLD is the etf for gold futures, Gold represents gold miners
      Miners leader: a market leader in the mining business. For example, SLW and EXK are silver miner leaders.

  3. john-b
    April 29, 2011 at 9:47 AM

    Hi Vali
    thanks. I am fully loaded into stocks as of yesterday at the open. Final trigger set and I finished loading stocks. I have positions in DDM (DOW) SSO (SP500) and UWM (Russell 2000). I have 4 units of SLV and today bought 2 units of GLD. So I think I am all set and just need to monitor my sell signals for everything. Hopefully we will get a rally that lasts another month or so before i have to sell much so we can get some good profits.

  4. john-b
    April 30, 2011 at 6:34 PM

    Vali, also early Friday I loaded 2 more units of GLD so by early Friday I had 4 units of GLD to go with my 4 units of SLV. Then GLD went up like a rocket the rest of the day. I think Gold will go to 1600 before it pauses at all and be at 1700 by the end of the month.

    Monday I will likely add 2 more units of GLD. GLD trend looks very solid now and may not pull back much for a few days. 60 min GLD cycle is still on bull. SLV still looks like it is consolidating and building a base below its 49.5 high value area. I will add more SLV when SLV finishes its consolidation and looks ready to go up more and break through the 49.5 resistance area for good.

    Then hopefully when settled into these positions the PM market will ride mostly up for the next month. Till the next PM OPEX day – 5/26. So likely start pull back a few days before 5/26. Maybe one good correction sometime in early May before the next solid metals push up to end of month.

    Miners look to be picking up some lately but are not fully into a bull cycle yet. I some some gold miners in a mutual fund otherwise I often play GDX for a gold miners position. If miners break into solid bull trend I will load more into miners. SIl is a good general silver miners position. Gold miners at this point look a little stronger than silver miners. But I think they will both likley break to the upside in the next week or so.

    I know many are scared of the equities market right now. But I am fully loaded in to DDM, SSO, and UWM now and making good money for over a week now. All of their trends look very solid now also. I expect a little more up in stocks early next week before a pause/consolidation correction maybe starting about Wed next week. I do not think the correction will be very deep. I think DOW may hit 13,000 before this pause and SP500 may hit 1375. 60 min bull cycle is still pretty strong for RUA and the mini bear cycles cannot even get the chart to go below zero then up more. But the tops of the bull cycles are gradually getting lower but not much lower yet.

    So I am possibly seeing everything PM’s and equities start a mild correction middle next week.

    Best guesses for the weekend.
    john-b

  5. platy
    May 1, 2011 at 9:44 PM

    Thank you Vali and also John-B. Your analysis is extremely appreciated. I read every day!

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