RE: Nice pop today.........but very few made biggers gains on the day than SLX.
I believe the biggest factor being how oversold SLX was . Hard to swallow that this mining infrastructure , production, and silver and gold in ground is worth less now than it was pre -merger.
Mouserman makes a good point. Were we oversold? Literally for months by any metric? Now Silver?
Never was in the " bubble " camp,,,just noted Silvers parabolic rise with obvious divergences coupled with upped margins. All markets correct.
Silver has corrected $17 or so off intraday highs and recently has recovered $2/3 dollars off those lows and it's " Happy days are here again "? Really? Like the song...but, really? Never that easy.
Hearing some " to the moon " like posts again.
Pretty simple.....watch how rallies are bought or sold. For Silver...alot of Gaps to fill going up.
The PM stocks should lead the metal this time, if the " coast is clear. ".
As posted previuosly would like to see Silver " Base " for awhile. Find a range. Possible? $34 had been decent support.
https://stockcharts.com/h-sc/ui?s=$SILVER&p=D&b=5&g=0&id=p99980416180
Watch the tape.
And any followthru for SLW? Noted the other day during the selloff that for " newbies " $.54/.55 was a good entry point. Leg in. But on the way UP!
https://stockcharts.com/h-sc/ui?s=SLX.TO&p=D&yr=2&mn=0&dy=0&id=p55792012837
GLTA