Barron’s Mentions:
Reasearch in Motion Limited (RIMM)
Barron’s – Tech Trader -Â Ignore The Panic -Â RIM Still Has A Bright Future
iShares Silver Trust (SLV) “Silver was down at a $42.20 low last night shortly following the open on Globex Futures due to China’s PMI and lite volume trading according to Tyler Durden. Shortly after it quickly bounced 3 points to the levels its at now. Basically a 50% retracement off the lows”
Barron’s – ETF Focus -Â Silver Speculators, Look Out!
Watch my new video “On the Wire” below.
Silver mania hit a new high last week as trading volume in the iShares
Silver Trust (ticker: SLV), a niche fund that tracks the metal, overtook volume
in the mighty SPDR S&P 500 ETF (ticker: SPY), which tracks the Standard & Poor’s
500. The surge came as silver prices have soared to nearly $50 an ounce from
under $ 20 a year ago. But much of the interest in the ETF appears to be
coming from investors who are chasing the rally, and could get hurt if silver
prices correct from a near-record high.
SLV saw volume soar late in the week by 400% from its first-quarter daily
average, while volume in SPY fell about 30%, says the National Stock Exchange.
It wasn’t only traditional ETF investors who joined the silver rush. Day traders
and investors in individual stocks also are thought to be piling into precious-
metals ETFs. “The massive spikes we’re seeing in daily volume for leveraged and
non-leveraged silver ETFs show that SLV is attracting huge numbers of intraday
traders and other short-term speculators,” says Michael Traynor, head of
strategy for the Jersey City, N.J.-based NSE.
*DISCLOSURE: Long SLV, GLD
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