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Commodity Trading Discussion Forum

Re: buy signal for metals-/Ronbo *PIC*

Posted By: Trades
Date: Wednesday, 8 July 2009, at 6:04 p.m.

In Response To: Re: buy signal for metals-bought dec. si. at 13.45 (Ronbo)

I bought the SLV last wk and bailed Monday early. Price acted worse than the futures and broke $13 quickly. Came back in the morning so got out with a small loss at the breakdown point. But looking back there was nothing wrong with buying at price support and an 8 month uptrendline. I'd do it all over again if it came up. Support is support but there is no guarantee it will hold every time. Most markets have broken down sharply at significant support areas quite surprisingly. And oddly enough DX isn't the main reason as it isn't rallying strongly. I am surprised at so many markets failing at these important levels. But I'll be watching for a serious wash out on a couple of markets with divergences and at price supports to get long if and when the time comes. How could we know a big dog was waiting for us cats at the mouse hole,lol.

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