It's still only 2:00PM Eastern and already over 24 million shares have traded in SLV, the big silver ETF. That's over a half BILLION dollars sloshing around in just one PM ETF in just over 4 1/2 hours. Up some .44 so far. A million shares or so in and out, and a nice day's pay. As has been said before, these ETFs weren't around blocking the way last time the PM juniors really took off.
For all the bad-mouthing SLV, GLD and some of the other ETFs have taken over the past many weeks, they still seem to be the preference of many of the guys holding the purse strings.
And why not. Silver price goes up, so does SLV. That hasn't been the case with all the juniors, especially mine. Silver price goes up, some of mine go down. And when you invest in SLV, you don't have to worry about mining costs, labor costs, inflation, low investor interest, sudden option giveaways, hard to get out of big positions, bank sandbagging, legal roadblocks, the weather and all the rest. And easy to get in and easy to get out. Simple. Why complicate things.
No wonder my juniors are still in first gear, if that. When will things really change? I think I've heard all the reasons why and when they should, but so far………
