As you know, we are on a macro phase (expected to be temporary) that sees silver outperforming gold with implications for not only silver and silver miners, but wider commodity areas as well.
Since I am positioned with gold miners/exploration and royalties, with some items combining Au and Ag, and since I already took the profits on SVM and silver tracker PSLV, I took a look around for another opportunity.
Enter Hecla (HL), he of the justified lagging performance due to very real operational issues (with supposed improved operations to come in H2). It’s far from an investment. It is a technical trade on the producer of a commodity I am still bullish on.
The chart is in a bull flag, complete with declining volume after a big volume surge (what you want to see in a bull flag). It could still sink to test the SMA 200 and is below clear daily chart resistance after breaking above it. It also has the potential to turn the moving averages up into a new uptrend. But first things first.
A successful hold of the bull flag status and upturn could target the upper gap at 7.45. I am not going to be lenient with this position if it starts exploring more downside, especially below the SMA 200 (orange).
I “see” a tight bull flag and decided to make note of it. Low priority update, obviously.
NFTRH++ trade setup ideas are presented for consideration and further research only, not as recommendations. I am not an investment adviser and these are trade ideas for each to consider on their own.
Living in Coeur D’Alene Idaho, I’ve never had any luck with that Company. But good luck with HL anyway.
I do, however like what IDR (Idaho Strategic Resources Inc. is doing.
They are a Silver Valley gold miner, and also control the largest Thorium/ REE land package in the U.S.,
See oilprice dot com article June 15 titled, .”.Why U.S. Uranium production surged”, It’s on the alternative energy/ Uranium tab..”., below in the article it discusses why Thorium has advantages over Uranium.
IDR has a Memorandum with Clean Core Thorium Energy Inc. to evaluate CCTE’s ANEEL fuel.
It could be a game changer?
Also, I see IDR has been included in the Russell 3000.
Good luck all.
Joel
Yup, HL is a dog. And in this case, a trade. Holding IDR after selling both MP and LYSDY. I read the article you provided earlier on Thorium. Quite interesting. Thank you.
Gary,
Any reason why my comment on HL and IDR was not posted?
Thanks,
Joel
Comments are moderated. We must have overlapped. While I’ve probably only filtered out 2-3 (non-spam) comments over the years, it’s good practice to moderate them because there are some real shit disturbers out there. I don’t filter anyone critical of me for logical reasons, but I would filter out hatefulness and garbage that has no place on a serious thread. I’ve had a couple couple real sick individuals on me over the years. Comes w/ the territory.