On 3/2 I shared in a post that I was concerned that a stock market decline could have a large impact to Gold & Silver stocks (see post here) Earlier this week I noted that Gold stocks were breaking key support (see post here) In a different post, patterns in Gold were suggesting investors should be cautious (see post here) Below is a long-term pattern in SLW that should be respected.
CLICK ON CHART TO ENLARGE
Game Plan…If long Silver stocks/SIL we are going to harvest. Should Silver break key support, harvesting will be planned.
Keep in mind due to Copper/FCX breaking key support we are attempting to score on defense, with the purchase of SMN (2X inverse basic materials ETF) a couple of days ago.