Shouldnt we look at the relationship between spot silver and the silver miners?
shouldnt there be some kind of correlation? Is it wrong to describe it like this.
Back in the summer of 2012, spot silver was holding and sliding along at 26 dollars. you can see the chart showing the zone. Then in 2013 we got the collapse from which spot silver is still struggling. It rallies to 25 in August 2013, but then collapsed again, and struggles in 2014 to regain even 21 dollars.
Now if you look at the most volatile and bubbling silver miners, ASM and FSM, just for starters....there appears no rational correlation now, as these miners have gone hyperbolic, taking their share price back to the 2012 top zone, which would correlate with spot silver around 37-40 dollars an ounce. Where's the correlation. Many other silver miners do seem to correlate, look at SVM,AG,and others which show their wave pattern still within the 'bottom' zone, in that zig zag formation. Just as spot silver struggles in its correlating zone around 18-21
I think EXK while not as bubbl pumped and frothy as FSM and ASM, is still in its own top zone at 6 dollar area, and remains dangerous to get slammed down. As a price correlation, even EXK at this 6 dollar zone, ,parallel to previous highs, where spot silver was at 25 dollars. so in this sense, if there's any correlating in this manner, EXK is overbought, and FSM and ASM are outrageously pumped up and escaping reality. I would be very concerned if I owned ASM and FSM , at such a pumped up top. spot silver ,spot gold, and other miners, are Not rushing ahead like ASM and FSM. EXK is scary enough at 6 dollars. I would expect at least a pullback again to 4.50, and a downwave later on, that could retest 3 dollar zone all over again. If the Cartel can still play the game.
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