Loading ...Short Term Special Silver Trade
Given my call for higher silver prices starting today(already happening, so far). Here is a short term trade using one of Plunger’s recently mentioned favorite silver miners. MAG which is often a leader had an upside gap yesterday on no apparent news. If today, MAG can fill the gap at around 12.35-12.40, one might try to buy it there for a quick short term move to the earlier gap around 15.50. My preference would be to hold for much higher prices but those who wish to hit and run could probably find another reentry point once that gap gets filled.(This is not investment advice, just my opinion.)
Gap filled, target acquired.
Yes, MAG has been a bit disappointing over the past 2 years, but it is a powerhouse deposit with production to double that it is one of those must own stocks in the silver space. I am not going to be caught without owning the quality companies even if the price dips down.Thanks for keeping your eye on this one CM
Yes, MAG’s production profile is why I have recommended it a few times over the last three years. However my concerns long term stem from the possibility, even likelihood that jurisdictions such as Mexico will restrict(possibly nationalize) the profits of foreign owned miners. This might become a problem for all silver miners(including the US & Canada) eventually. Trying to time profits before nationalization won’t be easy. Only way to totally avoid risk is to avoid miners altogether and just hold physical. While that is the lowest risk scenario, I am not there yet. Still willing to take the risk at least for now.