If you managed to catch my trade call on Silver yesterday, well done!!! make sure you bank those profits and don't hand them back!
I'm very on this stock due to the stocks positioning being outside of conflict zones or areas which are being impacted by Covid 19. This is coupled with the fact that the ore bodies have lots more primary Silver deposits in the ground at a time when i see lots of upside to Silver prices with no near sign of a drop in Silver prices.
This stock also performed very well post GFC - actually fair to say one of the best silver miner stock performers i could find across all markets when looking at price over post GFC time frames.
On the chart, I have mapped an aggressive buy and hold with a clear road map as to when ill be looking to move stops and secure the bag.
Click FOLLOW on my profile and like comment the post to receive updates as I'll be updating this trade of a lifetime as it unfolds.
As I write this have had a handful of positions I've profit locked a health distance away from today's pricing.
I'm expected some healthy price action today as the ASX opens after the strong Silver moves that have happened over NY time frame.
Leave us a comment or like to keep me motivated to post more!
Have a great week everyone!
For those unaware Silver mining stocks gives you a leveraged position on Silver. Just be mindful that the world doesn't actually have a tonne of "primary" Silver producers as its generally a byproduct of lead mines. Also, be careful of Silver producers in parts of the world with exploding Covid19 cases.
Another reason i like this stock is that the market is closed when alot of the volatility takes place on Silver which helps avoid being shaken out on this position!!! Bonus!
to scale back on my leverage ill be buying the underlying stock to build exposure without leverage to help endure the whipsaws of silver
Can you possibly provide a copy of this report and ill happily take it up with the company.
I'm not a fan of Commsec or any bank whos attempting to double as a broker for that matter. A bank that has a history of prying on kids to get them into the banking system from primary school are filth in my book. My wife also worked for the CBA (still waiting for her backpay from 6 - 8 years ago)
Full disclosure I am still adding further positions in this trade and have liquidated all leveraged CFD positions to remove the risk of whipsaws and swap charges.
This is a long term play - I will remain bullish on miners for several years and look to profit take along the way.
Thanks for stopping by WildWiseEagle
Currently im loading into the position using CFD's then banking profits to buy the stock so i can weather rape spikes and mitigate daily swap charges associated with trading with margin.
Thanks for stopping by and commenting - I'm new to posting on trading view so really appreciate the feedback.
Wouldnt suprise me if SVL does another 10 - 15 % on open 1.5 hrs from now.
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