Barclays has announced that the SEC has approved the sale of the Silver ETF. What does this mean? It means every group that tracks it and every purchase of the ETF will require holdings in Silver ~ equals higher demand ~ equals higher price. I have bought into the silver again sold an additional position on the USD/CAD. This may take a couple of days to play out on the precious metals so we will keep a loose stop and hold onto this for the next few days and more likely then not through the weekend.
Everything is moving, look for price pattern breaks and 2 and 3 year high and low breakouts.
Blake Young
Random Acts of Forex
