by Steven Sarnoff
Long-tarnished metals miners have been shining in 2016. Central bank shenanigans are weakening the US dollar and spurring precious metals prices. Over the short-term, silver may need a pause to refresh. But the overall character of the behavior of share price movement tells me silver is setting up for a nice long run.
In my Valentine’s Day missive to Options Hotline subscribers, I recommended readers get on-board a silver streamer via a call option on Silver Wheaton Corp. (SLW). This morning, I sent an Alert to take multiplier profits of +107% in just over a month, with an always known and strictly limited risk!
Let’s take a look at how that trade developed. As you can see on my weekly candlestick chart of SLW, February saw price break above the negative, debilitating influence of a downtrend line. That positive price action fortified underlying support (demand) and set the stage for higher prices down the road.