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  #61  
Old 12-29-2010, 09:12 AM
theplantguy theplantguy is offline
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I don't use many technical indicators. Resistance and support lines do come into play however as you could see in the chart. What I do watch is a 1 minute streaming chart, time and sals (T&S), and level 2. Without those, trading would be much more difficult. As you can see from the chart below, that resisrance line was pretty good.

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  #62  
Old 12-29-2010, 09:23 AM
theplantguy theplantguy is offline
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I closed the AGQ position when silver hit 30.50 as the resisitance line was close and I see a possible reversal coming. I was up a tad over $1.50 on the trade.
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  #63  
Old 12-29-2010, 09:25 AM
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axxell33 axxell33 is offline
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So you jumped in at 1300 at the $30.30 support.. and how do you plan your bail? Will you sell when you hit the 30.46 level? Or do you hang on and see if it can break higher past the 30.52 previous high?

Could you sell half at the .46 and gamble the rest to see if it breaks out above the .52?

Do you play any of the small swings as it moves to the upside? Or do the transaction fees cut too much into your profit?

Also, how many shares do you play (if you don't mind giving a ballpark #) in order to book a profit with say .10-.20 cent swings? In other words, what $$$ do you consider a successful trade?

Lots of questions.. so thanks!
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  #64  
Old 12-29-2010, 09:28 AM
theplantguy theplantguy is offline
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Most trades are 1000 or more shares. AGQ is 500-700 shares. A .10 move in silver is good for a .70-.80 move in AGQ.
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  #65  
Old 12-29-2010, 09:35 AM
theplantguy theplantguy is offline
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Looks like that ~30.50 resistance was right.

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  #66  
Old 12-29-2010, 09:37 AM
theplantguy theplantguy is offline
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Looks like REE gapped up nicely again this morning. It's trading .80 higher than my entry.
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  #67  
Old 12-29-2010, 09:46 AM
theplantguy theplantguy is offline
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out of REE @14.21 to lock in profit. May look at shorting it.
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  #68  
Old 12-29-2010, 09:49 AM
theplantguy theplantguy is offline
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Short REE @ 13.97
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  #69  
Old 12-29-2010, 09:53 AM
theplantguy theplantguy is offline
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Covered short @ 13.73 for a fast scalp
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  #70  
Old 12-29-2010, 10:00 AM
theplantguy theplantguy is offline
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I'm looking for silver to pull back to ~30.40 and then run up again

Update: looks like I was wrong and missed a good entry point.


Last edited by theplantguy : 12-29-2010 at 10:04 AM.
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