Closing short position in Gamestop (GME) on the bounce up.
Closing short position in Dine Equity at $46.12
SLV has taken a beating since peaking at $48. Yesterday's trading brought price to $21.96 before mounting a comeback and is up 4 1/2% in just two days. The overshoot of the 61.8% retracement level has been meaningful, so the discount for buyers is very good indeed. GLD has been racing higher since making it's low on April 15th.
What say ye fools? Are we staring at the bottom of the silver market? It looks like it to me. [more]
Stocks continued their decline from yesterday's high at 13,087 and have now fallen about 130 pts. from that high. Price is perched precariously upon it's short term white rally line and a good puncture through this line would signal that a steep sell off has begun. Fiscal Cliff meet Dow Cliff!
What say ye Motley Fools that a very steep decline in stock prices is immediately in front of U.S.?
It's always fun to catch market swings at their precise turning points and though I am very late in posting anything about the recent low, I've been kind of busy trading the low instead of writing about it. It does look like this rally will sell off a bit here, but the rally that began at 12,500 in the Dow is a classic setup for an extended rally to follow. As a general rule I use a series of technical charting indicators and a checklist, or book, which ranks probabilities as an actuarial. You'll see what I mean once you see the charts.
What say the Motley Fool Crowd of this early rally phase? [more]