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I sold out all of my yesterday acquired silver stocks just after todays open. I would have held, however I am going full defensive. The downside whoosh in the general market may be approaching.
Plus my impulse measuring method shows lower prices in the silver stocks before their patterns are completed.
Good Luck.
100%. Buy back in late June or early July. I believe the Fed will stop hiking after July.
Today’s rally is being faded hard, as usual. $silver has not put in a white candle on the daily chart in 16 trading days, and today could be day 17! That is absolutely unreal and frankly unnatural trading action.
To me, the action across the sector from April 18 has bullion banks written all over it!
I am not a fan of black candles at all, especially in the $gold and $silver charts, and $silver looks like it could be putting another big one in today–it will depend on the close. It virtually guarantees lower prices at some point in the future (although price could still rally for a little while).
Sir Nautilus,
In such a heavily, daily, timed manipulated market like PMs, it amazes me that you are paying attention to a black candle? That, after your “admission” that the action in the past 4 weeks has bullion banks written all over it? I’m amused … which side are you on?
Carefully chosen juniors, bought over time (pyramid strategy, as advocated by Stewart Thomson), has made me just ignore the daily/weekly/monthly noise in PMs.
GL
Sir Plunger,
My portfolio too has shown a big positive divergence of silver juniors versus the tiny uptick in silver itself.
Seems that the juniors which got oversold (rather, killed) in the past 2-3 weeks are being scooped up by patient accumulators who yet again got a chance to average down.
We will see if this is just another BMR in the silver juniors.
GL