RE: SLX ProspectsIn the short term we'll be held hostage to the price of silver.
Since our earlier high in late dec we've lagged silver....now sitting near slx to silver support.
https://stockcharts.com/h-sc/ui?s=SLX.TO:$SILVER&p=D&yr=0&mn=6&dy=0&id=p22177456411
Alot of jrs have lagged with momo going to majors and/or silver proxies. SLW earnings today? Option players.....pick a side. Up from $29 into earnings? Massive ramp? If you own it perfect time to sell some calls into that premium!
So...silver 20 dma approx 32.....50 dma...30. Somewhat parabolic the last 5 weeks.
Would like to see us decouple from knee jerk silver down...we're down action.
:)
Although alot of PM stocks still get no respect. Have followed this metric for years.
Used to be .30+ decades ago. Then in the mid .20's. Now? We can't even climb back over precrash
levels? Yea....ETF's have sucked money out of the majors but....
https://stockcharts.com/h-sc/ui?s=$XAU:$GOLD&p=D&yr=3&mn=0&dy=0&id=p51432784761
Use GDX and/or HUI and you get the same chart. Gold stock bubble? Really?
Yea some jrs have ramped.
https://stockcharts.com/h-sc/ui?s=GDXJ:GDX&p=D&yr=1&mn=0&dy=0&id=p62700242351
GLTA
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