Don’t feel rushed into precious metals stocks right now
Brien Leni kicks off today by sharing his current portfolio strategy for the junior stocks. We outline why he is not feeling rushed into buying any stocks and why he would be ok with giving up some gains to ensure certain stocks are in a stronger position. It has a little bit to do with the time of the year but also the fact that the juniors have still lagged the overall PM sector.
SILJ closed at a 2 month high today and is up 17% since Oct. 15 even though silver is down 2.5% in the same period. That is very bullish action that points to very good times ahead for the miners.
This is an important week for the miners and they are off to a good start…
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=0&mn=9&dy=0&id=p29486571517&a=700958480
SILJ priced in Dow is looking good:
https://stockcharts.com/h-sc/ui?s=SILJ%3ADIA&p=D&yr=1&mn=1&dy=0&id=p01380485036&a=700976830
The silver juniors are now very much leading the sector. SILJ bottomed over a month ago and is up over 16% since. GDX, on the other hand, bottomed last week and is up just over 4%.
SILJ is up 15% vs GDX since the 10/10 low for SILJ:GDX…
https://stockcharts.com/h-sc/ui?s=SILJ%3AGDX&p=D&yr=1&mn=9&dy=0&id=p67150930001&a=640421351