RE:RE:RE:not hard to figure outIf you prefer, you could use the GDX and GDXJ ETFs as industry proxies. Both contain numerous silver producers. The GDX is up 20% since the first of the year and GDXJ, which is probably more weighted to silver, is up 30% since the first of the year.
Even if you ignore the late December spike, which came on low volume, Sierra is still below the late December price, which was $1.76.
I just don't get it. Yeah, there are some good reasons for a little weakness, but this seems way beyond what one would expect.
The problem is that the DOW industrials just put in a double top today, and it looks like there will be a huge reversal candle. Gold/silver stocks are up today. But if we get a just a garden variety one month correction in the broader market, you can expect silver stocks to go down with them.