Buying Silver (SLV) – Charts and Dollar Explain Pullback
December 11, 2009 2:05 pm
We have added the industrial and precious Silver through the iShares Silver (SLV) on the recent pullback.
Silver is used for more than just jewelry. It is an important part of:
- General Fabrication
The technicals have been moving right along with the U.S. Dollar, which has been rising of late. The inverse relationship causes metals, oil and other commodities to dip when the U.S. dollar rises.. Recently the U.S. economy has been in recovery mode to a point that the concern being voiced is that the Fed will be forced to raise rates sooner than anticipated.
There will some jumping around with this one and we are holding it to a small position.
Silver has outperformed the CRB Sot Metal Index
Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.