Monday, December 9, 2013

More Wishful Thinking?

Silver, and gold have been quiet lately as they drift down in price. I noticed one of the silver producers in an interesting technical pattern.
Coeur d'Alene is a city in Idaho. It is also a mining company in the area. It is pronounced Kor' de Lane.
The ticker for this chart and stock is CDE.

Of interest is the declining price on quieter volume forming a declining wedge. In an uptrend a rising wedge pattern on declining volume means the buying is running out of momentum and is usually punctuated by a sharp drop.

I wonder if the reverse is true regarding this silver company and silver and precious metals in general. Isn't it about time we started seriously considering the prospect of inflation again? What would be the trigger? The Fed? The CPI? I don't know!
But here is that chart:

OOPs, looks like I ended up with a SLV chart in that screenshot.

Don't get greedy now!


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