I had bought ZSL (click on chart below to enlarge) on Friday (25 Mar 2011) at an average price of $23.60. I almost always average into my position as i understand that i will be too early during my entries at times. ZSL is a short silver ETF therefore ZSL will goes inverse to price action of Silver (SLV). I had covered the Silver trade here (click to see page).
ZSL had closed with a piercing bottom candlestick pattern on Thurs (24 Mar) on huge volume which jumped out like an eye-sore to all chartists. I immediately initiated a position the very next day.
First target: $26.
Second target: $30
Do note that we are looking at daily time frame and thus the holding period would be a few days to weeks.
I will also be looking at shorting LVS this week!
.
ZSL had closed with a piercing bottom candlestick pattern on Thurs (24 Mar) on huge volume which jumped out like an eye-sore to all chartists. I immediately initiated a position the very next day.
First target: $26.
Second target: $30
Do note that we are looking at daily time frame and thus the holding period would be a few days to weeks.
I will also be looking at shorting LVS this week!
.
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