Market Overview

Is There Any Stopping Silver? (SLV)

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Silver has to be in the running for investment of 2010. In fact, along with Apple (NASDAQ: AAPL), silver probably WAS the investment of the year. It looks like the run may continue in the precious metal, which has returned around 81% year-to-date.

Silver is hitting new highs again on Wednesday. COMEX silver futures have risen 1.13% to $30.665. The iShares Silver Trust ETF (NYSE: SLV) is trading up another 1.29% to $29.91.

One of the primary drivers in the silver market is the utter disbelief that many investors have about the metal's price action. The silver story is not necessarily widely subscribed to, and as a result, there is a healthy dose of skepticism - and short sellers - both necessary ingredients for any bull market.

The price action is telling the story here. Silver is going even higher, despite what the pundits may be saying. Look for the shiny metal to likely outperform once again in the first part of 2011.

Posted-In: Long Ideas Futures Intraday Update Markets Movers Trading Ideas ETFs

 

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