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Post# of 19037
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lvlamb

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lvlamb

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Re: Canuck Dave post# 15672

Friday, 04/28/2006 8:10:30 PM

Friday, April 28, 2006 8:10:30 PM

Post# of 19037
Oooh! The chart would have remainded in the same bullish configuration even $10.3 ish.
But this was quite a shake out when you see 24K contracts on 140K leaving the arena. Price hovered quite around $12.7, sow selling, then buying. Many specs will not come back soon.

By matter of comparison, the total SVL deposit is worth 3K contracts.

IMHO, the correction remained in the number of contracts, rather then on the price. Given this correction, retracing only 50% of a rally shows price support on silver.

Fwiw.


lvlamb a k a
Louis V. Lambrecht


Whenever you find that you are on the side of the majority, it is time to reform. (Mark Twain)





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