Nothing negative at all to report on the chart for Silver ETF (SLV) which is the underlying instrument for Ultra Silver (AGQ)... I am simply going to take 1/5th off here as a function of taking profits as they come. I continue to be a fan over the long run and since I am overweight silver v gold, silver will be sold. I am selling around $70.50.
From here, most likely every $2 or so on the ETF I'll sell increments, until a target of $80 if and when. At that point "parabolic" would be well entrenched. I'd like to rebuy $65 or lower.
Long Ultra Silver in fund; no personal position
Friday, May 14, 2010
Bookkeeping: Selling 20% of Ultra Silver (AGQ)
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