Silver keeps Climbing as does the SLV
The iShares Silver Trust (ETF) (NYSE:SLV) added 10.7% in the past 30 days and YTD its up an incredible 44%, it appears there is still room to climb.
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iShares Silver Trust (SLV) shares have traded between $14.37 and $24.06 over the past 12 months. The SLV is still strong, now trading just -1.69% below its recent 52-week high. We turn to TraderMark for some insight into investing in the SLV:
(FundMyMutualFund.com) One of the more crowded trades on earth (along with short dollar) looks tired at this point - that is gold. While I agree for the reasons for the move, and with a Fed intent on printing us to oblivion this continues to look to have a multi year move ahead, I have not liked the short outlook as evidenced by my 'long dollar' exposure. As I look at the gold chart it has broken below the 20 day and has been stuck near it of late. The problem is support is not that far away, down there at the 50 day moving average so a short position does not have much upside.... UNLESS the 50 day can be broken. If that happens than a floodgate of selling could occur as many of the recent buyers are 'weak hands' and just momentum chasers.
Silver on the other hand, not only performed better than gold on this run up (what a breathtaking run) but has yet to break below the 20 day. This precious metal is more extended than gold so if the 'long dollar' trade catches on, a short position could actually be a bit easier here than gold.