Loading ...Outside of Hecla, whose earnings actually didn’t look too bad, the volume in the miners is anemic again. Same with SLV and GLD.
I know I keep harping on this, and we’ll find out if it matters, but these shares are cheap.
What’s happening with Hecla is criminal. Their sales were 5% higher over last quarter and they had all-time high EBITDA of over $90 million. The sellers are looking at the fact that they missed estimates by $.01.
I’m not advocating for HL and I don’t own it, but what’s happening is pretty ridiculous. What’s happening in the metals at least today is non-sensical but just part of a vanilla pullback. The scum is taking advantage of some weak hands, and it doesn’t seem like this is any more than that. Part of the E-Wave pullback? Who knows, but we’re going higher, and I don’t think we’re going to have to wait much longer.
The DOW is sitting on its 50 dma, but below the 200. QQQ’s are sitting on the 200 dma above the 50. I’m not a chart guy, but we’ll see what happens. Hard to believe we’re done with the correction just yet.
Great weekend to all!