Silver Is Breaking Out

Silver overnight is trading up to more than 10%, at the time of this writing. This is a big jump and a breakout after a 5-month long consolidation period. SLV had already gone up 2 consecutive days last week on Thursday and Friday. This breakout looks like it has a lot more room to go. Let's visit the charts:

Daily Chart SLV

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In after-hour trading, SLV is already trading above $27, which would be above the recent height set in August. If we look at the monthly chart:

Monthly Chart SLV

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SLV's monthly chart shows resistance at about $27.5, which is at about what SLV is trading in after-hours. We can see that the last time SLV broke above this resistance level in late 2010, it went all the way to $48. Now it is almost exactly 10 years later. Will history repeat itself?

In August 2020, we booked solid profits on silver with the help of AGQ and I published an article about Bitcoin breaking out. We cashed out on the silver trade a switched to playing Bitcoin with GBTC. Here are the trades:

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As you can see, we started this trade in February 2020 at prices between $11.69 and $12.69. We closed everything on January 6, 2021, as high as $41.68.

Now, I think Bitcoin will go into a consolidation period, and we can go back into the silver trade. We did a one-day, quick trade last week on AGQ:

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with a +24% return. Now that silver has broken out (if the after-hours gains hold through Monday's close), I think there's much more room to ride.

We have also recently traded some nice trades on TLRY:

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with gains as high as almost +500% in 2 weeks.

On the downside, we had a nice overnight trade on ISRG earnings with a profit of +159%:

I had also recently started a new partnership with Trade Exchange which utilizes revolutionary “Per Idea Plus Pricing.” This means you only pay for the ideas you unveil - pricing begins at $29 per idea. But you know what’s the best part? You only pay for winning ideas! You receive a credit for a free future idea every time an idea does not win.

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