Seeking Alpha

TimerFrank's  Instablog

TimerFrank
Send Message
Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
My blog:
Market Timing Pro
  • IShares Silver Trust (NYSE: SLV) Headed To $26.00 0 comments
    Apr 1, 2013 4:51 PM | about stocks: SLV

    March 28, 2013 (by Frank Kollar)

    Shares of the ETF IShares Silver Trust (NYSE: SLV) broke below important support on Monday, April 1st. They will reach lower lows in coming weeks.

    In february, SLV made a precipitous decline, reaching a low of $27.35 before closing at $27.59 on February 20th.

    Today, Monday April 1st, that low was broken and SLV closed at $27.09. Breaks of support are usually followed by lower lows.

    At $25.66, there is very strong support that has been tested twice before on December 29, 2011 and then tested several times from the end of June 2012 through July 2012. The $25.66 level held.


    Chart Courtesy of StockCharts.com

    This is likely the target for this decline. A test of $25.66 in coming weeks is probable. Will this support level hold? It has done so for two years. We will find out in the near future.

    The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy does not have a current position in IShares Silver Trust.

Back To TimerFrank's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.