Sentiment has been against gold miners which was exacerbated by the Van Eyk rebalance. As a result, stocks such as SLR became oversold IMO. Gold has successfully bounced off support at US 1300 which gives me confidence in a new uptrend forming. Sentiment is only just returning to the sector and will be confirmed if the HUI starts to really take off. As a result, SLR is well place to rise from these levels which are currently sitting around their recent lows IMO.
SLR Price at posting:
44.3¢ Sentiment: Buy Disclosure: Held
