BRIAN SHANNON'S ANALYSIS ON OCTOBER 10, 2008. NOTICE THE INTRA DAY MOVEMENTS AND THE 5-15M TIME FRAMES HOW THIS MARKET PLAYED OUT
The Market did bottom there for a days and had one intermediate term and long term leg lower and that was it. Markets do not stay in one direction the entire way through. The video below is the current video of what is going on at lunchtime.
Yesterday was short term capitulation for silver and mid term today for silver. Today is closing in on long term for the Dow Jones. On 07.28 I announced that I was making a phony options play for both CALLS & PUTS. It was close to selling a call a few days ago and I didn't. Yesterday was close to selling a PUT and I didn't and the first 100% level has just come. I could get 76 cents per unit as I stated on that previous date... "As of the close on 07/28/2011 the SLV options for August show me a $44 call for twenty-seven cents a pop and a put for $35 and thirty-nine cents a pop"
This is only one sale of the five that I WOULD HAVE BOUGHT had I decided to take a CALCULATED GAMBLE! To continue my CALCULATED GAMBLE I will buy one call option for 23 cents on 42 per share for SLV. This is of course fake, but another leg down would show FAKE PROFIT in this GAME we call equity trading.
Be back later