It's an interesting exercise to mull over why people have sold into this silver correction today. I have no problems with anyone selling, there's always a valid reason. If selling is based on the weaker silver price though, then I really wonder why someone would hold IVR as there are other ways of obtaining an exposure to the price. When I look at the value of IVR I ignore the paper price, do you really think if silver was actually being produced today that IVR would be receiving the spot price, based on what we know supply is like,
But then again, I suppose it's Friday and there are those who will not hold over a weekend. From my experience on the ASX, Fridays and Mondays are good buying days and Wednesday a good selling day.
Looking at the 120-minute chart, we have 3 waves down, I want to see the price above 21.42 to see a bottom established.
IVR Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
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