Did You Capitalize On Our SLV Call (+17%)?
by Mike Paulenoff
May 31, 2020 • 1:08 AM EDT
On May 7, as the iShares Silver Trust (SLV) broke out of a moving average cluster just above 14.00, Mike Paulenoff noted that "a big directional move [was] approaching" which would initially challenge the 14.80 prior rally high and beyond that 15.65/85.
Mike's annotated SLV chart (below) shows more about what he liked technically, while fundamentally he has outlined 3 backstory reasons to justify sustained strength in silver as he's continued to follow it closely in his Live Trading Room:
1) Growing perceptions that inflation will be in our future largely because of the gargantuan expansion of monetary policy and fiscal spending,
2) Belief that the US and global economies will recover sharply by the end of the year, exerting upward pressure on demand, and
3) The view by "professional" traders that silver is way too cheap in relation to the price of gold. Add to that the prospect of a lower US Dollar, and you get a combination of forces contributing to silver's rally.
By the close of this past week, SLV was at $16.66, up 17% from Mike's May 7 post.
Join Mike's Live Trading Room for more calls like this, and follow his live coverage throughout the session on the S&P 500, Gold/Silver, key market-moving events, and stocks and ETFs poised to take advantage of the macro trends.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
markets, plus key ETF component stocks in sectors like technology, mining, and banking.
Sign up for a Free 7-day Trial!
More Top Calls From Mike
Every person on the planet is now aware that early on Saturday night, June 21st, 2025, the U.S. military attacked and severely damaged (destroyed?) Iran's nuclear sites and presumably their ability to produce nuclear materials needed to create a WMD.
Last Wednesday afternoon (6/11/25), with META circling 700 after establishing a 4-month new post-April 2025 recovery rally high at 708.87, this is what we discussed about the current technical setup: Just a heads up that my pattern work is warning me that the 52% upmove from the 4/07 low at 467.31 to today's (6/11) high at 708.87 has the right look of a completed, overextended, overbought, unconfirmed rally peak that leaves the price structure vulnerable to a correction of some magnitude.
On May 6, 2025, during the final hour of trading, and before AMD was scheduled to report quarterly Earnings that evening, I posted the following analysis to our MPTrader Discussion Room:AMD reports Earnings after the close... The only conviction I can derive from my pattern work is that the 4/08/25 low at 76.48, which represented a 66% correction from the March 2024 high at 227.30, has the right look of a significant low that completed a major bear phase.
On April 22, 2025, I posted the following analysis about my technical setup work in XBI (SPDR SP Biotech ETF):XBI (SPDR SP Biotech ETF)-- Could it be? Could it be that the near-40% correction from the 11/11/24 multi-year high at 105.47 to the 4/09/25 low at 66.66 fully discounted all the bad news in this sector? From a BIG Picture perspective, my attached Daily Chart shows this month's spike low into the vicinity of the previous major corrective low-zone starting in May 2022.
In the early afternoon on April 11, this was my note to our members:"IBIT (iShares Bitcoin Trust ETF)-- From a trading perspective, anyone who is in sync with the Bitcoin setup might consider owning IBIT (iShares Bitcoin ETF) against a stop below its 4/07/25 low at 42.98 (see my attached Daily Chart below)...
