Micheál Ó Cróinín

Silver starting to shine on Trend Following software

Micheál Ó Cróinín | February 28th, 2012 | Tags:

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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