Thursday, June 10, 2010

June 10

SSRI Hourly Chart

Looks like a pretty good setup for a short sale.  Sell $18.50, buy back $18.00.  We need to wait and see if the divergence is confirmed.

Potential negative divergence and gap spell trouble ahead of this stock's price action.

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SIL 15 min Chart
Finally a negative divergence to pop balloon #4.  Notice each day's opening gap was filled.  Today's opening gap should be no different.  So, it looks like we could have a few more shares go out just below $14.75 (I hope mine, included).  

This is a great ETF.  I will rebuy it lower if my plan works.

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