the following commentary is from the precious metals website kitco and although it pertains to silver futures it might as well pertain to SLV as it tracks the price of silver daily www.kitco.com/ind/kilbach/jun282007.html
the saga of SLV goes down when the market's down goes down when the market's up goes down when the dollar's down goes down when the dollar's up goes down when silver's down goes down when silver's up goes down when gold's down goes down when gold's up
goes down when silver miners stocks up does down when silver miners stocks down goes down rain goes down shine goes down no matter fucking what
Sounds like a bottom! I wonder if anyone dares to be long silver after yesterday's crash. My guess is every trader has been stopped out, and every buy&holder has puked out. It's interesting to see what next week's COT report has to tell.
and it was down hard again, anyway. IMO, it was the hedge funds puking their heavily leveraged holdings.
I have unloaded most of my position and I wish I had it back. $20.00 does not seem unrealistic with the bull phase in commodities and the weak dollar. Still holding palladium though. Akuma