BUY physical silver...
Silver and the silver miners getting smoked, today...
Below $23... I think essentially all of the "pure" silver miners are underwater... as "real" costs of production are probably in the range of $35 to $44...
That leaves the only viable silver production being the secondary byproduct of other mining... which mostly means gold miners, now... as, of course, its not like copper, zinc and lead are "on fire" just now ?
That its generating opportunity and future upside in the miners... isn't the same thing as "a market bottom" in the shares being made necessary in the short term. Silver is likely to behave more as an industrial metal in a recession for a while... in part as that's what it is... And, it might be awhile before it has an ability to dig out of that hole... given recession IS coming... or, as we're already in one... that is likely to be "a doozey"...
The market, today... seems it is getting another massive infusion of magic money... but, not "equally shared" as gold, oil and bitcoin down...
Yield's on the 2 and 10 year are UP... so bonds are down...
And, after yesterday's bond market insanity.. its probably driven by a rotation of out bonds back into equity... more given the bond market behaving the way it did yesterday obviate "risk in the trade" as a reason to avoid equity.
Fear porn from earlier in the week is... totally gone from the market today... although NOTHING has changed in the actual RISKS ?
Oil being gutted as a part of that trade... while oil shares (at least the ones I'm following intently... and in the longer term options on them) roundly ignore it.
Oil WILL crater as economic activity slows dramatically... AS stocks peak and turn lower... more or less. The timing in oil price moves versus a peak in stocks... is worth paying attention to closely now...
But, oil will soar, too... when wars suddenly expand and stupid shit happens...
So... "interesting times"...
SUN announced a dividend of $0.84/share on March 6... so may be a wobble or two coming in the short term "CONY" trade in SUN... which may or may not be expressed as expected... given the shares were up $0.85 in the morning trade... and from noon have traded sideways... |
