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Barron's On XLE and SLV

Apr. 27, 2011 4:27 PM ETXLE, SLV
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Seeking Alpha Analyst Since 2011

Independent investor.

Energy and Silver are hot in recent months. Below are some interesting comments cited by Barron's Focus On Funds Blog.

MKM analyst Curtis Trimble remains broadly constructive on the names in XLE, “but is increasingly comfortable recommending that risk capital be pared back or hedged in names that appear to fully price the strong operating environment,” the report said.
Read more here.
Day traders “are going crazy,” Joseph Saluzzi, co-head of trading at brokerage firm Themis Trading, said in the report. “It’s typical of the bubbly speculation that’s been going on in silver.”
Here are some fascinating factoids the article notes:
  • Volume in the silver ETF on Monday reached a record 189 million shares.
  • SPY had an unusually low 65 million on the opening day of the week.
  • The trading in SLV was five times that of the 37 million daily average of the first quarter and blew past its previous daily peak of 149 million shares set in early November.
  • On Tuesday, the silver ETF’s trading was 125 million shares, falling just 21 million shares short of SPY’s volume.

Also, the ProShares UltraShort Silver ETF (ZSL) totaled more than nearly eight times its average daily volume over the last three months. The article points to that activity as further evidence that day traders are actively playing silver, noting the juiced inverse ETF is down more than 40% this year. 

Read more here.

My previous posts related to XLE and SLV.

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