ETF CORNER

SLV : Heckle & Jeckle !

Lots of analogies in the chart of Silver in 2008 and the chart of SIlver in 2011.

If the anaolgy continues, you really don't want to own silver here and rather be loaded with ZSL !

SLV : Bounce to $38 and then up to $42.50

Silver has stabilized last Friday and is poised to continue it's climb towards the first target of $38 that will either be reached today or tomorrow. Depending on how fast and furious Silver shorts will run for cover ! I suspect will will have a minor pullback once we reach $38 and the another blast up to $42.50 which corresponds to the underside of the lost support line. That level could be reached within the next ten days.

 

SLV : Target 55 !

SLV : Blow off phase in earnest !!

Here is my expectation for Silver in the next 4 to 5 months. We are in the early stages of a blow off top phase. I suspect SLV will pop up to $55 in late June and crash down to $34 and even lower by mid September. ZSL is the double short SLV and AGQ is the double long . Play ball