Otto’s Family Picture

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Today was a significant day for the silver miners. With the death of Prince Otto, the word was sent by carrier pigeon to Mr. Bilderberg and the Illuminati that they could once again indulge in the precious metal trade.  Obviously they took that word to heart, especially in the silver section, with the more sedate Jacksonians like SLW and PAAS up 6.26% and 3.20% respectively, and the silver miner ETF– ticker symbol SIL— up 4.29%.

Even more stunning were the pocket rockets.  Of course the double raw silver ETF, AGQ, was up almost 10%, but some of the small miners did even better. My second largest silver holding  EXK, was up almost 12%, while AG and MVG were both up over 8% each.   Even ANV, the  mercurial Jacksonian gold stock, got in the groove, with a move of over 6.72%.

Even more promising was the chart damage today’s moves did on the silver bears.  AG is the cleanest example:

EXK had a similar breakout today:

I love how these rockets are leading us up like they usually do.  I am not, however “all in,” yet, as the $HUI continues to bedevil me by refusing to resolve itself.   The 50-day still remains a micro-hair above the 200-day EMA and they are flattening to a needle point.

My one consolation is that we’ve finally closed above both key EMA’s at $528.42.  That’s noteworthy, since we haven’t been above either one since early June.  Stay tuned tomorrow for some follow through.  I may even expend some cash.   I’m looking at EGO and CDE to continue moving higher tomorrow and to the end of the week.   My top pick for tomorrow, however, is GPL.

Tally ho!

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