Some Miners are Trying to Get Back Above Their 200 Day Moving Averages
November 4, 2022
We are starting to see several miners push higher, back up over their 200 day MAs, such as MAG and CDE shown below. This is important for the miners as they try to change the trend back into bull mode, and we expect to see more of this going forward. Today we see that not only are the metals and miner trading significantly higher, but the general stock market is also weaker, down about half a percent on the day. We expect to see a disconnect between the stock market and miners, one that lasts for several months at least, which will attract investors as more of them realize that real assets are the only game in town, and metals are real money. Let’s take a peek at the charts…
We did add to a few of our positions this week, but both MAG and CDE are components of the SILJ etf, which we also own.