Just a brief post to inform our readers that we’re adding to our silver holdings. We saw a decent washout on the 1st of March that might have marked the low. Even if it turns out that it hasn’t, sentiment and positioning (plus strong support in the 27.50$/oz. area) have us thinking that the downside is limited.
We also want to mention en passant that today’s action in miners looks promising: a nice reversal on large volume. Given how oversold they are, this strikes us as a good entry point. We do however remain convinced that outright ownership of precious metals is the way to go in this (and every other) bull market: mining companies may act as leveraged proxies from time to time (and this is likely one of those), but they can’t offer the safety and returns of the actual physical stuff.
As usual, do your own research.
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