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NOTE: This was a Thursday morning post, although still relevant. Apologies for the rasslin’ w. both location and WordPress problems…
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Silver is in a runaway move here. There, I’ve said it. It could end within ten minutes of trading today, or it could end in two to six weeks from now. I really believed we’d get a sharp pullback from our most recent moves, and perhaps we still will, but there’s no denying we’re in major breakout territory here.
I have no advice to give, save that you do not get reckless and leverage yourself into ruin. I have been cutting back here, and adding to my gold names in hopes of a catchup. This late in the day, however, is not the time to start getting careless.
Here’s the thing… this will end and likely soon, but it will not be The End, if you know what I’m saying. In other words, there will be other opportunities to play this bull. Make sure you have the capital to do so.
Right now, I’d be looking at underserved names… Ironically, SLW is one of them, as it had a hard pullback yesterday, if only to it’s 50-day EMA (and 13-week EMA as well). I may grab back some of the exposure I sold there over the last couple of weeks. I will know by 10 am what direction I will take.
I also continue to like AAU and a number of other small names which should be popping today. Check also AUMN on the gold side, as well as IVN and BAA — two other late bloomers.
Best to you all. Oh… and Happy Maundy Thursday and Passover. Think about going to church/shul this year.
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