I am generally bearish on precious metals (which probably makes me the weirdest freak on Earth), and I'm extra-bearish on silver. The chart below shows the silver ETF, symbol SLV. Compared to its yellow-colored cousin, GLD, silver has not been making lifetime highs. SLV has been grinding away in the $17 range for a number of weeks, and if precious metals weaken, I believe silver will be harder-hit than its stronger brethren.
I am taking advantage of this point of view by being long ZSL, the ultra-bear ETF on silver. My average price on it now is 4.75, and I am using 4.53 as my stop price.
