Is the Silver juggernaut on the move again?
Silver futures prices surged a whopping 177% in an 9mth period from Aug 2010 to Apr 2011 before coming off the tracks and giving up 80% of the advance over the next 8 mths through to the end of 2011.
Having rallied 41% off the December lows of $26.14/oz Silver is most definitely taking the gloss off its Gold counterpart (where an impressive +16% rally in the same period doesn’t appear all that impressive up against Silver). Today has seen the precious metal forge new 6mth highs as it emphatically broke the $36.00/oz Oct high resistance.
The Solas Trend Finder software is tracking this latest advance closely and is long the instrument since early last week taking advantage of the latest wave of buying interest. Having taken out the Oct 2011 highs technically the precious metal has its sights set on the $40.00 round number followed by Aug 2011 highs @ $44.65/oz. Much work to be done in the interim and no doubt plently of volatility ahead however the Solas Trend Finder’s dynamic stop loss management is alreadt kicking in as it contracts in line with rising price action.
On of the most liquid ETF equivalents for trading SLV is also advancing very impressively since the turn of the year. As one of the components on the Solas M Series GLobal Portfolio we are long this instrument since mid Jan and as currently running +23% on the trade to date with 67% of open profit currently locked in by way of the in-built dynamic stop loss management.
Interests: We are currently long both Silver Futures (SI) & IShares Silver Trust (SLV)
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About the Solas M Series – Global Portfolio
The Solas M Series – Global Portfolio is a multi strategy, multi sector, multi instrument construction. The portfolio trades both long and short with a view to giving you a broad diversification across various sectors using multiple systematic trading strategies in order to maximize potential returns, while reducing your down side risk.
Solas trade the Solas M Series portfolio on a live $100k tracking account.
About the Solas Trend Finder Algorithm (STFA):
The Solas Trend Finder Software is designed for traders and investors who want to take advantage of short, medium and longer term trends across multiple timeframes on all major asset classes including global indices, equities, exchange traded funds (Etfs), commodities & forex.
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