VelocitySharesTM 3x Long Silver (USLVF)

[Scandle34]

SLV chart could make an argument for touching $19's but ZSL shows the short-side trend-lines converging on current highs.

While the ZSL weekly chart could argue much higher levels, the slippage of inverse and leveraged ETF's needs to be considered and only log-chart peak-to-peak and trough-to-trough slopes over long spans have much meaning. I ignore the 1-day spike in early 2011 but the mid 2009 high and the early 2010 high extrapolate to the present ZSL high. So do the two meaningful peaks in 2011. So does the entire high of 2012.

IMHO ZSL has peaked so I agree SLV has bottomed.

Here's yet another interesting way to gauge it:

http://seekingalpha.com/article/1357111-gold-and-silver-enthusiasm-soar-to-historic-levels-in-the-wake-of-collapsing-prices?source=email_rt_article_readmore