Excerpt from Brian Hunt’s “Market Notes”:
“Silver holds the same “safe haven” allure as gold. It has served as a real, tangible form of money for thousands of years… so people flock to it when they get worried about holding paper currencies. With Europe and Russia’s huge banking problems, “worried” accurately describes the mood across the Atlantic.
“Our chart today shows what worry looks like. It’s the past six months of trading in the silver ETF (SLV). In addition to showing SLV’s price, our chart displays the amount of shares traded each day. Red bars show the trading volume on days silver declined in price. Dark bars show the volume on days silver advanced. The taller the bar, the greater the volume.
“As you can see from the dominance of tall dark bars, investors are stampeding into the safety of silver.
“The money flow here is extraordinary. As The Daily Crux pointed out last week, all we need to hear now is “this time is different,” and we could have a mania on our hands.”
FYI from your editor: I do NOT endorse investing in any ETF, including (especially) the silver ETF “SLV.” If you want the protection and upside of silver get real, get physical.