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Message: Silverado Charts, what scares the short sellers ?

Silverado Charts, what scares the short sellers ?

posted on Sep 22, 2009 09:11AM

Here are two charts

!) First chart shows Silverado is still in an upward 'Strong Trend"

2) 60 day, daily chart


The Silverado chart below shows that the 20 day moving average line appears to be the support. The Relitive Strenght Indicator (RSI) at the top of the price chart did touch the over bought threshold 70 during that heavy volume of buying last week. The RSI has now moved down close to neautral which is a bullish sign.

The shorts like allot of volitiity in order to make their money on wide swings; they haven't had any room to make much money since last May

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