Strong buying soaked up all selling around $3 for three days in a row despite the sector falling significantly on each of those three days. That was a good sign SLR was near a low. Almost surprising we didn't at least have a temporary or false break of the bottom of the channel considering the sector weakness. HUI up 2.8% overnight. We should now see a sharp reversal back up towards the top of the channel, hopefully breaking it this time if the POG isn't manipulated lower again with more Fed words again or by other means. If it does break out past the high 3.40's, it won't need too large a move to retest the record highs again.
SLR Price at posting:
$2.99 Sentiment: Buy Disclosure: Held
