I bought into Silver and Silver Miners ETF's for clients last year and wow has that trade been insane. I sold Siler in between Christmas and New Years as it got so far extended about its 50 day MA, and sold Silver Miners on Friday for same reason. I'll take the profits and be happy about it, as they were excellent - wish all trades worked out like those - but I agree that selling after massive run ups like this is a good strategy. The metals will cool off by either coming down in price OR sideways action for a while, working off their overbought condition and allowing their MA to catch up, and then they may be considered a new buy.
I bought into Silver and Silver Miners ETF's for clients last year and wow has that trade been insane. I sold Siler in between Christmas and New Years as it got so far extended about its 50 day MA, and sold Silver Miners on Friday for same reason. I'll take the profits and be happy about it, as they were excellent - wish all trades worked out like those - but I agree that selling after massive run ups like this is a good strategy. The metals will cool off by either coming down in price OR sideways action for a while, working off their overbought condition and allowing their MA to catch up, and then they may be considered a new buy.
Nice work. I think sideways action for a while would be positive for miners.