Loading ...Three Monthly Silver Stocks That Say “No Bull”
These are some of the bigger boys in the silver mining industry.
I do like Mag Silver. It has a huge deposit of high grade silver, and will be an efficient low cost producer. But the chart looks bearish.
MAG.TO – MONTHLY
Pan American Silver is another excellent company. It broke out to new all time highs, and then…
A failed breakout is usually a bearish signal.
PAAS.TO – MONTHLY
First Majestic is a cult favorite. It, too, broke out to new all time highs, then failed. Another bearish signal.
FR.TO – MONTHLY
Note the monthly MACDs.
I want to own all three, just looking to buy at lower levels. Hope I don’t miss it. Rick Rule has often mentioned that there is plenty of leverage in these 3 big players, one doesn’t need to own the more “gamier” ones or companies which just chase narrow vein deposits (Impact).
Fair enough. At the first sign of a market turn I will probably jump on on board too. Hope I am clever enough to catch a bottom.
The thing is, I have a nagging feeling the Gold bottom will happen sometime in 2023 – so 1 1/2 – 2 years from now.
If a market top is in, and the everything bubble really does burst, what sort of decline are we in for?
Will it rhyme with 2000, 2008, or 1929?
Thoughts, Sir Plunger?
Silver Fox, according to some in the PM space, gold and silver have 8 year cycles. The last bottom in gold and silver was right at end of 2015. So, yes, late 2023 should be a big bottom. Will these 2 commodities grind slowly and painfully from now to then? Or, do we get a cyclical bear market bottom in the next few months as Plunger has alluded to, followed by a big move up for 18-20 months, at which time we see a reversal and head down to late 2023. Never a dull moment. Thanks for those charts. I’ve owned all 3 many times over the last 20 years.
Isarmina, my opinion is that I don’t know. I have a hunch, but I don’t know. No one does.
As you said, 2023 fits the 8 year cycle bottom.
Also the Hurst Gold Cycle is calling for a major bottom in 2023.
If the bottom is delayed until 2023 you can bet there will be vicious bear market rallies between now and then.
We watch the market, we play it by ear, we do the best we can. Sometimes that’s good enough. Sometimes it’s not.
Good trading.
Let’s see how the month closes, but yes, things ain’t looking too hot (but they seldom do at significant lows).
Tomorrow and next week should be fun.