Taking a Stand

Here’s a classic 50/50 coin-flip; I’m covering my shorts if silver breaks the short term downtrend line. However, I am aware of a possible fake-out scenario; sometimes the market nudges prices just enough to cause a short squeeze, which is when the pros usually place their shorts.

I’ve made a respectable return but would like to see one last attempt at $28, which is proving to be a strong support level.

[Silver COMEX MAR'11: 1-month]