Today the silver metal price was up around 1% and SLW was down nearly 1%. How do you define an anomaly? And as for tomorrow....will we see another anomaly? Not likely. Tonight silver is up just about 1 1/2%. You can't keep a good horse down. SLW will have some catching up to do tomorrow. And the miners will break away from the downtrend in the rest of the equities.
And we're not even into the month of September, yet. Remember....silver takes a FOND VIEW OF PRICE ACTION in September. Only time will tell. Something tells me September may pan out to be an outstanding month for the metals. The FOMC meeting on 9/18 & 9/19 will probably reveal that the Fed cannot commence tapering, especially with the upcoming congressional budget battles as well as the ominous debt ceiling. The Piper is coming to collect his dues. And the Piper will not be happy with payment in fiat paper. The Fed is about to lose control....of interest rates and the U.S, currency as well. If interest rates go on a binge to the upside causing the underlying treasury bonds to lose immense and sudden value, just watch foreign holders of treasuries rush to the exits which will only accelerate the rise in interest rates. Oh...the pain!!!!
Buckle up people. September.... or October at the latest will spell the launch of much higher silver and gold prices.
Last night when I posted on yesterday's "anomaly", the price of silver was up $0.52 (after yesterday's close). That turned out to be the high point for silver in the last 24 hours and I just happened to catch it. Now silver has lost that entire gain plus it has gone negative by another 11 cents. So....silver price is in the red and SLW is up 2.4%. Here we go again......another anomaly!!! LOL
Regardless! Where are we headed in the "short run" as we look at the negative correlation between silver price and SLW. Very hard to tell. Nevertheless, fundamentals for a long term dramatic rise are still intact!
China and India support PM rising prices, what is going on right now with USA is not helping us as a miner/streamer.....long term SLW is fine, short term perhaps rocky!! nothing goes straight up and if it does it will topple quickly, lets see what happens to TSLA...
there's a gap to fill at around $23.30 - and the support on the bottom trendline is at $23 - so, if SLW goes below $25, then it will most likely be heading to that $23 area to close the gap and test support.