Hey everyone, Barrie Einarson from Trade Ideas, and welcome to today’s What Makes This Trade Great.

Today I want to talk about the silver sector, specifically the SLV ETF, because this has been a really interesting area of the market lately. To Subscribe to Trade Ideas:
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Silver has been on an incredible run all year, and even just in December, at one point it was up close to 33%. When you see a move like that, you know a pullback is coming at some point — and that’s exactly what we finally got.

The Pullback in Silver

SLV pulled back about 7.6%, and honestly, it didn’t matter which silver name you were looking at — most of them were hit. I personally shorted HYMC, and it did exactly what you want a short to do. It went down, down, down.

But here’s the key part: once that selling pressure started to ease, we began to see buyers step back in. A lot of these silver plays were still down on the day, but they started trying to come back.

That tells me we’re no longer in “easy downside” mode.

Why VWAP Matters Here

Right now, SLV is sitting right at VWAP — that purple line we pay a lot of attention to.

This is where the decision gets made.

If VWAP acts as resistance, then we may get another opportunity to reshort some of these silver plays. Strong trends don’t just give you one trade — they often give you multiple chances if you’re patient and let price come to you.

What Makes This Trade Great

What made today a great trading day in silver wasn’t that everything moved perfectly in one direction. It was the clarity:

• A strong prior uptrend
• A sharp, healthy pullback
• And price now testing a key reference level

That’s exactly the type of structure I like to see. The market is giving us information — we just need to listen and react, not predict.

Let VWAP tell the story, manage your risk, and stay disciplined.