PPR - SLV Aug 19, 2011

Published : August 19 2011 at 14:29 ET

While 64,605,300 shares would have to be traded today for SLV to be a pocket pivot, today's price in SLV just clears 41.19 which is its old intermediate high making this a breakout pivot point as it is a breakout from a midbar handle. Those who already have positions in SLV or AGQ can pyramid here, or wait for either ETF to hit their pyramid price points.

Note, a pullback in GLD is liable to also pullback SVL, thus pyramiding into SLV or AGQ is a prudent strategy. Let each ETF prove itself on a price basis so you average up, keeping your average cost typically below where each ETF is trading.

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