Miners are experiencing a decent pullback on the daily charts, now sporting oversold technicals like stochastics and RSI which is usually a good time to add. I am doing some nibbling here on the SILJ and trying to add to some individual miners are well, like EXK.

While I don’t make trading decisions off the COT reports, I found this very interesting.

This chart goes back ten years showing SLV divided by the QQQ’s (Nasdaq market). It trends for long periods, could a breakout higher above all the moving averages lead to a big uptrend in silver and the miners? I think so, and we are getting there now, with the 200 week MA also flattening out before starting to trend higher.

Just a quick post looking at the $Silver futures monthly chart, going back twenty years. It shows strong support in the $21-$22 area, and no resistance once it gets over the $27-$28 level. Everything I pay for, both goods and services, have at least more than doubled in the last two years, so there is no reason to not think silver will do the same and take out it’s all time high near $50, and quite likely go much higher from there. With gold at $2000 again already, silver could be the best investment on the planet at the moment.