Archive for May, 2009
Buy SLV
SLV’s 50 day moving average has crossed above it’s 200 day moving average and the downtrend from the July, 2008 top has been broken. An ideal entry point would be about $13. per share but I wouldn’t hesitate to start buying now. SLV is trying to break through an intermediary double top at around $14. per share. If it breaks through it looks like it can make a run to its old highs of about $20. per share. There are Jan. 2010 $13. leaps available that have very little premium attached so I would consider buying them.
FXI Update 5/4/09
If you purchased FXI at or near the recommended price of $27.00 I suggest you take some profits into this rally. It has risen 30% in a short time. You may wish to sell half and hold the rest for longer term gains. Options traders should adjust their positions accordingly. Only very long term committed traders should hold their entire position.