SLV down nearly 10% and near support.... cover

21 nov 2011

Silver is down from last week's sell signal (going under $33). This is a decent place to cover, especially ahead of any news coming out of the Deficit Cutting Committee AND ahead of Thanksgiving. This is a decent profit for a short period of time and many other, more vulnerable charts are breaking, like AMZN and AAPL, that are more interesting to me. This is worth covering here, in my opinion. Sometimes charts tell a story all by themselves and sometimes it is critical to see how a stock performs RELATIVE TO something else, like expectations, competitors, and news.