Five Silver Securities Hit 52 wk Highs

Silver has been doing a lot of catching up to gold lately and today in particular as 2 silver miners and 3 silver ETF’s hit new 52wk highs. Silver Wheaton (SLW) hit an all time high today of $24.41 (congrats to those who bought in early 2009 for $6.50 a share) and First Majestic Silver (FRMSF) hit a high of $5.38.

The ETF’s that hit 52 wk highs were iShares Silver Trust (SLV) $19.55, PowerShares DB Silver Fund (DBS) $35.30, and ETFS Silver Trust (SILV) $19.91.

Despite all of the good news, I still think we’re in for another major pullback even as the commodities are decoupling from the market due to the falling asset prices and rising basic materials prices.

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About Aaron Basile
Market Technician, Equity/Commodity Trader, Austrian Economist, Contrarian Investor

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