Although I do expect a dip of over 5%, before a rally, I'm still ready to take that risk.
There is a high probability for a crash in US equity market anytime and if that happens, commodities, especially gold and silver, should be there in the portfolio to act as a hedge. I'm not a big fan of gold and I consider it as an overhyped element when compared to silver because silver has much better use cases for future.
Silver also moves better than gold in terms of percentage gain and so I prefer silver over gold.
The crash in silver was already expected and I had posted it publicly. That post is attached along with this post and do check that out.
So I'm taking a position and the entry levels are mentioned in the chart as well as underneath this post. I'll update when I make any alternations to the position or add on to it.
By the way there are 2 major silver ETFs listed in US market. SIVR and SLV.
SIVR is Right for You if: You are a long term and cost conscious investor seeking to hold onto a silver ETF for an extended period of time. SIVR has an expense ratio of 0.3% which is lower to that of SLV.
SLV is Right for You if: You are an active trader seeking to either speculate on silver’s movements or quickly execute positions in the precious metal. Although it is the largest and most popular silver ETF, it has a higher expense ratio of about 0.5%.
Trade active
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Bought 29 units at a price of 21.7 USD.
Trade closed manually
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Closed manually at a price of 23.70. Booked a profit of 9.24%.