When #silver $slv miners bottom, how hard will the bounce back be? A comment by @LawrenceLepard in a space last night made me dive in a little further. Let's start with the 2020 crash: 
https://twitter.com/aschmidt2930/status/1570055835673366534
*Note: I used Pan American Silver (PaaS) as many silver ETFs and other top current names weren't nearly as established across both time periods. Data is similar throughout the sector.
PaaS bottomed on 3/20/2020. Here's the price action in the following days:
PaaS bottomed on 3/20/2020. Here's the price action in the following days:
The bounce off the bottom was over 43%. Although, a patient person, if timing the pullback perfectly (GLTA 🙃 there) could have gotten on the silver bull 22% off the low on 3/31.
In the GFC, Pan American bottomed on 11/20/2008 and then bounced 40% over the next two days. A person able to perfectly time the pullback could have gotten on the silver bull 14% off the lows.
The past doesn't have to be prelude, but it does seem quite likely that when these things bottom, they will absolutely erupt.
Is there more downside before we hit this point? Possibly.
But if you're nodding with the herd that you'll "get in when the Fed pivots," ask yourself...
Who will sell?
#Silver #slv
But if you're nodding with the herd that you'll "get in when the Fed pivots," ask yourself...
Who will sell?
#Silver #slv
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