Look at the intra-day reversal in silver?
Remember when I told you “the best time to own silver is at the peak of crisis into reflationary rebound”?
Well, the market is recovering from an early swoon and silver is leading the way up. If I had to put a shotgun to my face and pick a stock (I don’t know why I would do such a thing), I’d say “get long EXK”. I am not happy with TLT climbing to new highs, however. But at a minimum, it is somewhat encouraging to see silver reverse to the upside.
The day is young and I am not diving back into the market yet. My position in RBCN is getting “KRO-barred”; but it’s a very thinly traded stock that can reverse to the upside with a 20,000 share buy. It’s important to watch “early recovery” stocks, like MTW and TEX for a “feel.” So far, I am leaning towards the idea of a late day reversal and Friday surge, based off of manipulated Chinese GDP numbers, scheduled to be reported tonight.
UPDATE: I bought more EXK