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Game Plan…Remain owning Silver ETF SLV and will harvest the position on a support line break. Silver actually tested its support line at (2) yesterday and so far it looks to have held. Too early to tell, yet could be a good sign.
Aaron…The relative strenght of copper and basic materials the last few days has been impressive. I have been looking for relative weakness in that area and right now it is NOT HAPPENING! This pust the SMN position in danger.
I am with you until the end on SLV (although I was tempted to exit before yesterday. Thanks for the insight.
On another note, how does SMN look to you?
It did not rally the last few days during the downtrend. I am afraid that the Japan crisis will elevate basic material demand and send SMN in a free fall.