Richard Russell om silver på King World News: Something Big Is Brewing In Silver
I’ve been so busy moaning about the lagging gold mining stocks that I totally forgot about the silver stocks. I’ve been saying repeatedly that silver is “dirt cheap” but I neglected to look at the silver stocks that were selling at prices that were cheaper than dirt.
But wait — why have silver stocks been rocketing higher? Some shrewd operators must believe that silver is about to make a big move skyward. And if silver is going to surge, then the silver move should rub off on gold. One ounce of gold now buys a fat 53.4 ounces of silver.
Silver is still selling on the bargain table, and the silver stocks were selling below bargain table prices. But look at the silver stocks now. Something BIG could be brewing. Maybe it’s time to buy GDX and GDXJ or even SLV. Silver, the “forgotten” commodity, is coming into its own. How do we know that? The silver stocks are telling us so.
And here’s Silver Wheaton, having moved nicely from around 2 to 40. Lesson — Buy ’em when they’re dead, and when nobody wants ’em.
Below is Hecla — in a symmetrical triangle, which should soon break out to the north.