Anticipating Silver's 20% Rally
by Mike Paulenoff
November 8, 2020 • 2:45 PM EST
A week ago Friday (Oct 30), with the equity markets and precious metals under intense pressure ahead of the forthcoming election, Mike Paulenoff told members of MPTrader:
"If there is one equity sector I think is imperative to participate in starting on Tuesday, well into the next Administration, regardless of who is in charge, it's the Precious Metal Miners in general, and in the (Junior) Silver Miners, in particular (SILJ)."
Mike's heads-up to MPTrader members came to fruition all through last week, buoyed by the strong surge in equities, very positive earnings reports from CDE, PAAS, AUY (to mention just a few names), policy implications of a potential Biden presidency, and from super easy Fed policy, and fiscal stimulus tailwinds expected in the months ahead.
SILJ climbed from Mike's alert at 13.38, above his key near-term upside breakout zone at 14.00/15, to Friday's pre-market high at 16.26, a gain of 21.5%. SILJ closed Friday at 15.98.
What's next for the precious metals and miners?
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Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts
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