Market Curiosity: Exploring Markets And Systems

January 6, 2011

Ok, silver’s drop is a big deal so far

Filed under: Just Watching — Tags: , , — Jeff Fitzmyers @ 7:54 am

Seems like it will take a bit of time to form a base here. One nice thing about the SLW chart is the apparent bull flag offers a very clear entry point: Breaking the top of the trend line. If price breaks the bottom trend line(s), much more basing will likely happen.

I don’t think the silver bottom is in yet since price is weak today and the SLW:$SILVER ratio mentioned here is not yet trending up. In fact SLW, PAAS, HL, CDE, SSRI are down about 3-4% while silver is down 0.5%.

ps. LBMA silver popped out of it’s 2 day backwardation today. Actually it was the silver lease rates that got more expensive in near months relative to far months. Sorted out now.

Referencing:
– Silver’s 5% Drop Today: Not A Big Deal, Yet
Apparently Silver Stocks (SLW Mainly) Must Lead Silver

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