Yesterday, via intraday alert, we entered a small position in the ProShares UltraShort Silver ETF (ZSL). Since breaking out on December 14th, ZSL has spent five sessions forming a bullish pennant. We took small size at this level with a small stop in anticipation of a breakout. Since we got in early we set a wide stop. Depending on how ZSL sets up from here, we may consider adding to the position if the setup warrants doing so.

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