I am taking a look at silver and silver miners this morning.
Disclaimer — Silver, more than any other commodity with the possible exception of natural gas, exists to part people from their money. Famed trader Stanley Kroll once wrote:
“Adam Smith, in the Money Game, said that whenever he had the urge to trade cocoa, he’d go lie down until the feeling passed. I happen to agree with him on cocoa — only I’d add platinum to the list.”
To my mind, he would probably be saying this about silver in the 2000s. But first, a reminder to read my full disclaimer — NONE of this is financial advice, but rather an example of how I am evaluating market technicals in near-real time. Hopefully it helps you, but more likely it will just make me look stupid in a few hours or days. All charts below are via Bloomberg.