Silver Standard Resources is showing the divergence
We've been waiting for a signal the PM market is going to explode, here it is:
Plot a silver standard resources chart SSRI in the USA and SSO in Canada
Yesterday 5-7%, today 7-8% gain. Everyday is like that while all the other silver companies, silver futures and $HUI and more importantly $XAU stand still. This SSRI is the barometer, there is an explosion coming with the big gainer being SSRI to date.
All the money on the sidelines, which has been salivating at an opportunity to get into PM's is seeing what is happening with SSRI right now and they are looking at the companies that haven't performed yet, or haven't had the gains yet as SSRI. They should be position in PAAS, SLW, silver futures and the PM indexes right now.
My numbers say $8.70 is the bottom in SSRI for today but there have been dozens of other underperformers. I think if silver futures can have a 5 min close above 19.991 today, something interesting might happen in price explosion upward.