The goose that lays silver eggs

Market Pulse: Apr. 26, 2011

This past weekend my son was reading the book “Jack and the Beanstalk.” When he read the part about the goose that lays the golden eggs, I thought to myself that so far in 2011 I would rather have a goose that lays silver eggs.

May silver opened this last trading week at 42.956 and closed the week on Thursday at 46.059. At $50.00 per point, that was a $15,515.00 move.

On the daily chart below you can see how silver is looking technically. ADX at 79.630 reflects an extremely strong trend. MACD is adding divergence up away from the signal line showing solid momentum. Stocahstics are overbought and this market looks ripe for a correction.

Proceed to Page 2 for the latest COT Data...

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