Everything shiny is popping higher today – gold, silver, and the miners that dig ’em up.
I came this close to buying SLV calls yesterday, but I didn’t, and obviously that was a mistake. Poor old silver is so battered that it was almost guaranteed to bounce, although I think all these metals will roll over (yet again) since they are still within the throes a long-term downward move.
As if I’m near a downed power line during a thunderstorm, I’m not touching anything metallic, but keep an eye on XME, as I think it could be bouncing to attractive shorting levels here.
