Silver is having another amazing day, soaring almost 5%. The iShares Silver Trust (ETF) (NYSEARCA:SLV) is trading at $18.44, +0.57 (+3.22%).
THE TRADE: Silver is a short as of today for a near term pull back. This can be maximized using puts, leveraged ETF’s or just short the SLV itself. The reasoning is simple. Look at the chart below. The up-sloping trend line is a thing of beauty. Most investors buy/sell or short for no good reason other than a ‘feeling’. I strictly look for chart signals. This propels my success rate north of 80%.
Details on this swing trade will be posted here live.