On Monday I decided to try a “cute” short trade in silver. The metal had a massive run since breaking out above the $30.40 level to new highs, and felt a bit over extended. I got short tier 1 with an average price of $35.55, and fought the trade for two todays before finally getting the flush Thursday and Friday mornings. I ended up covering my SLV at around $33.55 after some early strength followed the gap down this morning.
Here is the link to the strategy I also outlined on theStreet.com.
*DISCLOSURE: No position
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