SLV has broken out of the uber-watched descending triangle. as i believe that i mentioned in my previous posts regarding SLV, i am going to stand aside for a little while as too many eyes have been on this pattern lately. that doesn’t mean that this breakout won’t stick and have legs, just that i feel that the odds are pretty good for a breakout (bull-trap) or some post-breakout whipsawing. with that being said, nothing wrong with taking SLV or some of the miners that are breaking out along with the metal (the SSRI long set-up, for one, has broken out on a nice move up today), just make sure to use stops and consider trailing them up to protect profits.
