No Bounce Back In The Metals This Week… Should We Be Concerned
Doc wraps up the commentary today with a focus on PMs. After the selloff last Friday many bulls were looking for a bounce this week. It didn’t happen as the metals simply moved sideways. What does this mean for the overall PM sector moving forward? Listen in to find out.
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Hi Clare. It appears technically that Corvus will be under pressure for some time. I would say the odds are good that you’ll be able to purchase it again under 2. There should be no hurry to purchase at the current time since I would wait until it’s finished with its’ drop and starts to trade in a lateral range. I’ve been watching Corvus for some time waiting for it to fall back again—I will purchase in the future—not investment advice.
Despite the 50cent drop into Tuesday, the silver CoTs are a horror show.
That lower trendline in SLV’s triangle–you know the one everyone has been watching for the last year?–kiss it good bye soon.
Doc, did you buy any IMBBY yet? It’s been going up, and that BTI i bought@48.5 on Mon has jumped to 51.53 on Fri. This sure beats working! Somebody is smoking a lot of Camels…
As for silver, I recall in 1980 when 1 oz silver cost $10 more than a barrel of oil. Now it takes 4 oz of silver to buy a barrel. Silver will soar again one day and be higher than oil.
BB, don’t let your pocket get picked. Let’s see where IMBBY and BTI are in 3 months. I believe IMBBY could bottom around 30-35. BTI could struggle longer. But you’re right about silver—-it’s only a matter of time.
Ira’s metals:
https://youtu.be/GM2iCuJNM-8?t=32
I hear a beeping noise in the background. I think Doc’s car is being towed away.
haha. I heard that too. Beep…. beep….beep….
Cory mentioned Doc’s area was under construction and there were a few saws running in the background.
I’m guessing it’s the infrastructure almost in place to hold his new safe full of PMs. 🙂
Hi Doc,
Just wonder what your current view is on corvus, come off quite a bit. Thanks