timwest
Long

SLV attractive

BATS:SLV   ISHARES SILVER TRUST
552 views
1
Here is my commentary from last January 2012 (over a year ago):
"I VIEW SILVER ( SLV ) as an attractive entry candidate on long side here. Back in October I saw that QE~ was unsuccessful at generating any new momentum in the price of silver and I felt it would undergo a correction.
Now that correction has lasted several months and the price has settled back down from the $33 level to the $29 area and I think the price will work itself back up to the $32-$33 area over the next three months, which is close to a 10% gain and a reasonable return given the risk (which I think is low).
I am comfortable owning silver due to its compelling fundamental supply/demand situation.
Happy New Year to all!
Cheers.
Tim January 9, 2012 12:24PM EST"

After that commentary the SLV did provide an attractive 10% return inside of 3 months.

Once again, it seems that this pattern is setting up again, but instead of it starting from January in the typical "January-effect" kind of way, it had to get even more oversold by going sideways to lower relative to the overall stock market. Gold mining shares have been taking it on the chin, sliding sharply in the first quarter so far.

So, I would like to re-iterate this buy signal and encourage you to look at silver as an attractive long here with 10% upside potential over the coming 3-6 months.

Tim March 11, 2013 3:23PM EST
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Comments

Upper shelf support looks very attractive
Reply
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