The long term chart of Silver appears to be firming up and possibly breaking out as of today:
If so, the chart of Fortuna Silver can return to the highs. We can see that the "small" pop to $20 silver in 2016 sent FSM to its highs, almost ten dollars.
If the bull market is back and silver surpasses its 2016 highs, who knows how high FSM can go?
There are many ways to play this. I am long the Jan 2020 $3 strike call at 55 cents. Small position, prepared to add more on a pullback in precious metals.
If so, the chart of Fortuna Silver can return to the highs. We can see that the "small" pop to $20 silver in 2016 sent FSM to its highs, almost ten dollars.
If the bull market is back and silver surpasses its 2016 highs, who knows how high FSM can go?
There are many ways to play this. I am long the Jan 2020 $3 strike call at 55 cents. Small position, prepared to add more on a pullback in precious metals.
Trade active:
After only a few days these options have doubled. I'm selling half to convert the position to a "free ride".
I am prepared to buy more at lower prices. I have no idea if it will dip, but it is very stretched over its 20 and 50ma.
Also, AG has had very similar performance to FSM. I sold those calls today, which feels like a mistake. I think any dip close to the 8 or 9ema in either chart is a strong buy. This is a massively strong trend.
After only a few days these options have doubled. I'm selling half to convert the position to a "free ride".
I am prepared to buy more at lower prices. I have no idea if it will dip, but it is very stretched over its 20 and 50ma.
Also, AG has had very similar performance to FSM. I sold those calls today, which feels like a mistake. I think any dip close to the 8 or 9ema in either chart is a strong buy. This is a massively strong trend.