Wednesday, May 11, 2011

5/11 10:30

Shorted silver this morning at 39.36 which is just above the 31.8% retracement and just above key hourly M/A.

The stock market has rallied with commodities, now it should fall with them.  Holding short stock ETFs. 
Holding stock index shorts.


  1. Hello Steve,
    Can you please clarify your I1 stance? Today was the day to close "flat" - which you are - but you mentioned two possible triangle interpretations yesterday which I believe resolved to the "newer bullish one." Thx!

  2. Are you still looking at 1320 before moving short postions, or has that changed over the last few days? I'm tempted to get out on this bump, especially if today is indeed the low 1 signal...