iShares Silver Trust (NYSE: SLV) — The objective of this exchange-traded fund (ETF) is to reflect the price of silver owned by the trust less the trust’s expenses and liabilities. This investment is intended to be a simple, cost-effective substitute to owning physical silver bullion.
I first recommended SLV on Nov. 25, 2009, at $18.50. On Nov. 8, at $25, the Trade of the Day said, “The trust has had straight-line appreciation since September 2010, so buyers should use caution at current levels. But if silver bullion continues to rise and inflation rears its head, SLV could see much higher prices. Buying a half position now and a full position later might prove to be a wise investment.”
Scaling in is an effective strategy for fast-moving markets, and our next buy price is at $23 where a full position may be bought. A stop-loss order should be entered at $22.
If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net.
