ProShares Ultra Short Silver (ZSL)

[Crusader]

IT is starting....

[xero90]

Thank you

[Crusader]

Nice touch to have Fib. Levels

on the chart. I will try to post a chart later with the accelerated trend line, trend indicator ans momentum indicator. Corrections are healthy, although the loyal longs deny their existence in the future.

I can understand and see how the market swings take advantage of most of us.

[xero90]

ZSL chart

[xero90]

Looks like this week may be the week to load up on ZSL. IMHO

[Crusader]

Any technicians disagree?

Overbought for the ST technicals and even for the ST fundamentals.

QE3 inflation wil take months, not a few weeks. On the other hand, the FED's balance sheet is up 2.3 trillion dollars and the Monet supply is up already.

Watch the charts, folks!

[Crusader]

The technical indicators predicted this correction,

Even though it was a short term correction.

If silver stays below its 200 DMA, then short term could last longer than expected by many.

The majority are often wrong.

[Crusader]

Hello to the "dark side"....

Lots of technicals saying silver corrects this week-around now.

Time will tell.

[Bertsllc]

really dont know rite yet. they say there will be now QE-4 meaning this would be the last of the bullets. does Berny want to spend those bullets now, over employment numbers or save them till he (we) really need them.

[xero90]

Do you think no QE3?

[Bertsllc]

Gold support was 1540. But as you know this gets a huge pop (HUGE) if no QE-3. Chart is pinching big time and screaming buy

[xero90]

I don't know... gold is holding its ground. Where is support... spot could make it to 37 IMHO

[Bertsllc]

Getting ready here

[xero90]

If this goes sub-40 I see pain for shorters at this time... i.e. ZSL holders

[xero90]

40 might have support (8 pre-RS)

[xero90]

anyone? at one point this has to bounce. Silver cannot go straight up.

[edit] 31.26 spot would have tremendous resistance IMHO

[xero90]

anyone trying to play a bounce?

[xero90]

this might have a bad day today close to noon. JMHO

[xero90]

ZSL looks a little weak here

[xero90]

David Morgan INTERVIEW--SILVER:

[xero90]

Check this out:

I wonder if higher oil prices could cause another 2008 cycle.

[xero90]

agreed EOM

[georgewrasmussen]

I previously posted that ZSL was a buy, then it immediately performed a head fake down.

I said it was a BUY, BUY, BUY!

It is now showing quite a bit of strength to the upside again.

I would bet the farm, if the -DI hits the ADX line again with the +DI being above both the ADX and the -DI.

Looks like that is going to happen very shortly here.

I don't get into fundamentals, but it would be easy to see, that world demand is screeching to a halt once again. Hence the decline of SILVER all around...and the rise of ZSL.

Let's wait and see how this pans out in the next couple of days.

[xero90]

hmmmmmmmmmmmmmm

[xero90]

Blue line moved, lol.

[xero90]

What you think?

[xero90]

Probably not!

[Bull Trader]

SILVER SPIKING!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[xero90]

George watching gold, so far it is holding on the 15/30 minute charts... a break down and you might be right. Are you still ready to load up ZSL?

[xero90]

Our cousin copper:

[xero90]

Let's see if the tripple holds:

[Bull Trader]

good stuff! i can understand it now! lol

[xero90]

Look at this - delfation 1st

[Bull Trader]

interesting....

[xero90]

Is it possible?

[xero90]

BUT closing above the 50-SMA would be a good thing for longs!

[xero90]

Also PM boards for the most part are really quiet, posting wise -- not a good sign for longs.

[xero90]

USLV hit resistance right at the breaking point (22).... I know I'm sounding bipolar here but she hasn't totally broken out yet.... may have another good chance to go long yet again. I bet a few ZSLers are stacked in here.

[georgewrasmussen]

I like your charts...

but it looks like a head fake move down to me...

I'm not invested in ZSL.

But if I am right...I will be long here shortly. (a play on words)

ZSL did break the resistance line down ... but I would expect a lot more selling here than what has been witnessed.

Plus a lot of the indicators are oversold.

I still think it bounces from here and comes up roaring.

My sweet indicator is the DMI and my sweet spot where I commit monies is when +DI > ADX and -DI and -DI < ADX and +DI

That happened for a day...hence my post.

I'm thinking/leaning towards it doing it again next week.

If it does it will be a large windfall for traders..going long for ZSL.

We will see who is right...soon enough.

[Pro-Life]

I see a clear path... as zero90 already said, the time to switch to AGQ has arrived... $SILVER is bullish now as its' alter ego ZSL suffers a nervous breakdown:

Annotated ZSL

......

[georgewrasmussen]

I post a few days ago to buy ZSL

was based on the -DI being below the ADX line
while the +DI being above the ADX line
and the ADX line was bending its way back up (looking good)

a very bullish place to strike when it is JUST about to happen
as it did that day.

as of today the -DI bounced back above the ADX line performing a head fake.

if you go back to MAY 7th, 2012 this day was just like JULY 24th the day I posted.

with one exception...the PARABOLIC SAR was above not below like on MAY 7th. (my mistake...was pulling the trigger too soon, thinking the 25th would have been another up follow through.)

I hope this explains things for everyone.

Right now...it is very undecisive and I see no clear path as I did before.

[georgewrasmussen]

Yep,

on the daily it looks like it is going to move up, ZSL. / SILVER going down.

Would wait on the 30 min chart for a parabolic flip to the upside then I would buy.

Don't like the pull back today...so would wait on the 30 min to turn around.

The ADX looks great on the daily though.

Very volatile ETF.

Be careful.

[mpeets]

(SORRY FOR BEING STUPID HERE - I follow you on another board, OK?)

YOU SAID IN YOUR POST:

It is time to load up on ZSL people.
Looking good for a large move up.

This is a fund that is "short silver", seems right? And if you are looking for "a large move up", are you saying silver is going to go down large in the near term? Which would make ProShares Ultra Short Silver move up large.

Sorry again if I am being dense, I just need a little bit more clarity here. Thanks

I should add that I am long silver, and I see it at $50.-$100. by 2015, and $100. to $200. by 2020. A long time frame for sure, and a long long play for sure. Not that it matters, I just respect your T.A. skills, and want to learn.

Thanks,

MPEETS

[georgewrasmussen]

I am a technical day trader.

It is time to load up on ZSL people.

Looking good for a large move up.

[xero90]

ok, 75 should be it ...

[SilverEagle]

RS LOL

[xero90]

>Time to switch to AGQ is near!

- not yet -

If spot goes to 22 area, IMHO this is the time to switch making ZSL near 100. (89 should have tremendous resistance)

[SilverEagle]

Wow, Reverse Split?
Looking at the long term trend, ZSL is going down!
Time to switch to AGQ is near! JMHO

[SilverEagle]

Nice MA200 was broken today. But RSI is high. Watch out for a pullback!

[TRENDmendous]

Reverse split shares 1-for-5 on 5/11.