+368 SLW @8.15851

Chart of YI

Entered +368 SLW @ 8.15851. SLW closed at $7.95 yesterday and touched $7.60 overnight. 52 wk low is $7.75. The bounce today is in light of silver setting 52 wk low just above $11. Gold is at new low of $777 too. Precious metal being pounded despite recent turnmoil (i.e. the Mae/Mac bailout).

SLW seems to be hitting resistance at $8. There’s also been 2 down, uncovered gaps in past 2 weeks. Fee = $5.52

Targets:
Time frame, at least 3 months.
Price, new highs above $18
Stop, closing below $8 for 3 consecutive days.

Closed position for 10.9% gain.

Related posts:

1. BOUGHT +250 ESLR @5.99848
2. Bought +2 RTH 100 AUG 09 85 PUT @4.00 Mark 81.96