Please check my previous ideas on AGQ, why I like to invest in it and the potential there is.
AGQ is a 2x leveraged Silver ETF. Instead of utilizing swaps like most geared funds, AGQ invests in silver futures and forward contracts—this also means the fund is structured as a commodities pool, so it will distribute a K-1 form.
Since I expect silver to go higher, holding some AGQ shares is another way to invest /speculate on the price of silver rising.
I like your ideas on AGQ and silver. I think we must contemplate at least the chance that the final lows for silver are now IN for the entire year (the lows seen in recent weeks).
If this is true then we could expect a 21 to 36 week rally of silver into the end of year time frame which is typically bullish seasonality.
Note in the weekly chart below that the AGQ retrace from the rally that started at the smile face was a .886 Fib retrace, a powerful retracement signal. It nailed the .886 retrace within only .40 cents.
Also note how price is moving higher now on weekly and holding above the 50 week moving average. Also note the weekly hammer reversal candlestick.