[caption id="attachment_279" align="aligncenter" width="500" caption="SLW"][/caption]
Just before leaving for Taiwan on the 25th, I placed a GTC limit order buy for SLW at \$8.80. The order executed on September 29th, 9:32am, at the open. I can't remember the exact reasons for the \$8.80 price point. I should post an entry when I do limit orders from now on just to be clear.
[caption id="attachment_280" align="aligncenter" width="500" caption="Silver"][/caption]
However, looking at the charts of SLW and Silver (YI), things are looking bearish for SLW. I will watch this position and be ready to exit as soon as needed or on a small bounce. It's funny that what I believe to be my most "stable" company turned out to be the one I'm worrying about in my current holdings. I guess that's a good sign as I'm not too attached to any company or having too much faith in them. Being skeptical and remaining critical of your positions are what's essential in trading.
Upside: Still haven't touched the 50 dma. Price is in trading range near the 52-week low.
Resistance: \$9.0, then 10.
Downside: Indicators seem to be turning bearish.
Support: Round number \$8.0, although the current price is already skimming on it. More likely \$7.50, just below the all time low of \$7.62
Bottom line: My signals have turned negative on SLW. I will try to get a good exit.
: http://traderpau.files.wordpress.com/2008/10/2008-10-01-slw.png : http://traderpau.files.wordpress.com/2008/10/2008-10-01-yi.png