What's up with Silver Standard?
I see lots of buying in SSRI today as the price of gold and silver languish.
But there has been quite a lot of buying in the silver and gold miners for the last couple months, and the buying does not seem to closely tied to the daily fluctuations in the prices of the underlying commodity.
This is bullish for the whole sector.
But, unusual activity in SSRI, so far today...........
The daily chart is making a bottom pattern and a move above $7.25 will probably be a big move.
A sharp drop will wake them up.
I am getting the feeling that we are not out of the woods on the oil thing. Oil must work off supply. That will take time. I can see producers hedging sales here. I suppose it all depends on how flexible they are, meaning how much debt is overhanging the operations. My guess is there is lots of debt. That means lots of hedging. (Selling)
I almost forgot to mention that Coeur Mining (CDE) has been strong lately also. Look at the chart, but intraday is where the story has been.