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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Technical Setups for a Market Selloff

iShares Silver Trust

Last week, I recommended that traders buy units of the iShares Silver Trust (SLV) on a push above the 50-day moving average - which happened just a day later.

The resulting trade would have generated gains of more than 11% as the S&P 500 lost value.

If you're still in this ETF, it's not necessarily time to unload units just yet. Metals are performing well as an alternative to equities in this market. While some semblance of a correction is likely today as stocks bounce a bit, I'd recommend holding onto SLV until we see a move below $38 support. For now, consider any position in SLV to be insurance against more broad market moves lower.

To see these plays in action, check out the Technical Setups for the Week portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.

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At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji is the editor and portfolio manager of the Rhino Stock Report, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including Forbes and Investopedia, and has been featured in Investor's Business Daily, in Consumer's Digest and on MSNBC.com.
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