Global X Physical Silver Structured (ETPMAG) $101

Not an ETF per se, but after yesterday’s savage retreat by silver, we felt it warranted a mention. The ETPMAG is an ASX-listed commodity product that gives investors direct exposure to the spot price of silver, but it is structured differently from a typical ETF. Once the weak speculators have been stopped out of silver, we like the industrial/investment thesis moving forward. This is one product to watch through the current volatility.

• We can see further downside in the ETPMAG, but after already falling 35%, it feels closer to its destination than departure.