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?
Join Mike and his MPTrader community for real-time discussion about the sector from technical and macro economic perspectives.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
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More Top Calls From Mike
On May 25, Mike Paulenoff alerted MPTrader members to a preliminary upside reversal signal in F (Ford). The stock at the time was trading at 12.40, up from its then multi-month corrective low at 12.07 established on May 20.
Mike instructed members that only a close below 11.00 would invalidate his preliminary bullish signal.
Back on July 5, Mike Paulenoff alerted MPTrader members to the bullish potential in MRNAs chart.
With the stock trading at 154.68, he showed the charts projection towards resistance at the March 22 high of 188.33, writing: Just maybe, the 6 month base-accumulation period and pattern carved out by MRNA during 2022 after a wicked corrective-bear phase is starting to make its presence felt technically.
Back on July 17, with ARKK trading at 44.22, Mike Paulenoff commented:
ARKK (Cathie Wood ARK Innovation Fund) ... my attached 4 Hour Chart shows the price structure has carved out a May-July Rounded Bottom formation that is putting upward pressure on a key resistance zone from 46.70 to 48.12, and if hurdled, will trigger upside projections to 58-60...
Since then ARKK in fact climbed to a new 7-week recovery high at 49.
Back on Thursday, July 7, 2022, this is what Mike Paulenoff discussed with MPTrader members about the ARK Innovation ETF (ARKK):
Its Time to take a look at the technical setup in ARKK, putting aside the miserable narrative that surrounds ARK fund manager Cathie Woods performance from the February 2021 ATH at 159.70 to the May 2022 low at 35.10 (-78%).
Back on the afternoon of June 30, just ahead of the long July 4th holiday weekend, Mike Paulenoff posted to the MPTrader.com Coverage List the following chart-based commentary about a forthcoming directional price move in the SPY (SPDR SP 500 ETF Trust), which was trading at 379.38 at the time:
From the perspective of my Hourly SPY setup, todays low at 372.56 followed by the powerful rally to an intraday high at 380.
