timwest

SLV looks attractive for a 10% gain in this quarter

Long
BATS:SLV   iShares Silver Trust
I VIEW SILVER ( SLV ) as an attractive entry candidate on long side here. Back in October I saw that QE~ was unsuccessful at generating any new momentum in the price of silver and I felt it would undergo a correction.
Now that correction has lasted several months and the price has settled back down from the $33 level to the $29 area and I think the price will work itself back up to the $32-$33 area over the next three months, which is close to a 10% gain and a reasonable return given the risk (which I think is low).
I am comfortable owning silver due to its compelling fundamental supply/demand situation.
Happy New Year to all!
Cheers.
Tim January 9, 2012 12:24PM EST

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