Stock Market Commentary by full-time trader and best selling author Bob Kudla AKA "BobLovesHawaii"
Tuesday, October 26, 2010
Hi ho silver, away?
As I mentioned before, silver is my commodity of choice for the next move higher. As you can see from these two charts, silver is showing great resilence.
Looking at SIL, it completed an island bottom reversal and filled the gap.
AGQ, is consolidating around a high volume area, and held its 20 EMA. I reentered AGQ yesterday with an initial position with November 104's. I will buy December 100's once the volume area is cleared, and the EMA 3 crosses above the 6.
Finally when the dollar fails below 76.13, I will place my final trades, buying SIL and PAAS.