Loading ...First Indication
The first tell of the coming breakout for Silver and Gold is the new ATH today in MAG. MAG is one of my four leaders(only one actually doing anything meaningful, so far). The high is only by two cents so far, but MAG has been very strong since the Nov. 30th bottom. Whether it has a pullback first or just rips from here doesn’t make much difference in the long term. Onward and upward.
Chartsmaster, I don’t recall if i bought it on your recommendation, but thanks if it was you. 650 shares on 11/19/20, up 35%.
Well done Isarmina. Just on the phone with my friend who I put into MAG. Told him we are probably going to take profits on a spike next week. MAG leads and has some gaps below that will probably need to be filled. Don’t know if you want to trade some or just hold for long term?
Silver miners are ripping higher yet again today. Many are reaching LT resistance. AG is one I own, and it has been building a gigantic pennant since 2007. It is about 50 cents from finally breaking through (breakout will come above approx. $14). My guess would be we get a pullback when that line is hit but who knows since it has already hit that trendline quite a few times before–it might just bust through without any real pause this time. We could obviously get a backtest from above.
Nice move today. Looking like another nice call for Chartmaster. Cheers!!
@Chartmaster I didn’t buy on your initial calls but was surprised when IBM popped a few days after your mention. I ended up getting in around $110. Looking like a long term bottom. 🙂
Thanks Hermit, well done. Yes, that was a great entry point for IBM and yield was probably over 6% at that level. Will have some volatility but where are you going to get that type of yield without chasing high risk junk.