"Water shapes its course according to the nature of the ground over which it flows; the soldier works out his victory in relation to the foe whom he is facing. Therefore, just as water retains no constant shape, so in warfare there are no constant conditions."
- Sun Tzu

Thursday, January 19, 2012

Silver Opportunity

A nice technical trade is shaping up in Silver: the metal is about to break an important declining trend line and prices recently bounced from key support levels. The trade on the long side has a risk:reward ratio of 1:3 (stop @ $29, target @ $35). It's not shown on the chart, but 35 is also an important Fibbonacci level:

 
Disclosure: Covestor model is long SLV.
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