The timing on HYMC looks solid given how the metals complex has been moving lately. I've watched alot of these silver names breakout simultaneously which usually signals some real momentum behind the whole sector. Taking profits at your first traget makes sense too since these miners can be pretty volatile even when the underlying metal is trending well. The correlation with the broader precious metals trade seemspretty tight right now, curious if you're watching GDX or SIL for confirmation signals when positioning in individual names like this.
Thank you! I do look at the main index (/SIL in this case) on a more general case to make sure I’m aligned with the overall picture - but I don’t time it intraday with my positioning. This name was generated from my scans a few weeks back along with AG and HL. I just picked HYMC b/c of the news it had on 12/22, and b/c it’s very liquid and trades at 12% ADR. Taking a profit on d1 is nice I agree!
The timing on HYMC looks solid given how the metals complex has been moving lately. I've watched alot of these silver names breakout simultaneously which usually signals some real momentum behind the whole sector. Taking profits at your first traget makes sense too since these miners can be pretty volatile even when the underlying metal is trending well. The correlation with the broader precious metals trade seemspretty tight right now, curious if you're watching GDX or SIL for confirmation signals when positioning in individual names like this.
Thank you! I do look at the main index (/SIL in this case) on a more general case to make sure I’m aligned with the overall picture - but I don’t time it intraday with my positioning. This name was generated from my scans a few weeks back along with AG and HL. I just picked HYMC b/c of the news it had on 12/22, and b/c it’s very liquid and trades at 12% ADR. Taking a profit on d1 is nice I agree!