Light At The End of The Tunnel
I believe there is some hope in the chart and trading action of the true leader for silver. While not necessarily the best performer, Hecla (HL) does tend to lead the action in the metal and the rest of the miners. Hecla has gotten killed with everything else in the sector, but on Friday, it was up eight cents and was actually up twelve cents for last week. This, while silver cut it’s one dollar loss during the week, by a third on Friday. The chart shows a much more developed bottom (still not definitive but has already had two successful back tests of it’s low made a week and a half ago) than any other in the space, that I have seen so far. A daily close above 4, would be very positive. I believe this light at the end of the tunnel, is not the proverbial “oncoming train,” but rather, a true ray of sunshine for the future of silver. I expect the small gap at 3.80 created on the Monday open, to be filled today, and will be buying there.