Silver’s Target

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Hi Folks – – I took the snapshot below before the opening bell today and am just now putting it up. I think SLV is headed for about $24.50, or a touch lower, based on both a gap-fill and a measured H&S target. I did a profitable day-trade on SLV today, but I'm frankly too nervous to hold it overnight, in spite of my optimistic prospects for its downturn. It's just way too volatile.

I'm heading out right now for a business meeting but will put up a new post later this afternoon. As I'm typing this, GOOG earnings are out, and I guess there's a lot of chatter about big management changes there. The earnings were apparently stellar, but as I am typing this, GOOG is up not even 1%, and the NQ, incredibly, is actually lower on the news.

0120-slv

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