Marek Mackanic @MarekMackanic: "Portfolio quick update. $SILVER and..."

Slovakia

Portfolio quick update. $SILVER and $GOLD are still in a multi-month corrective phase and as I pointed earlier in my posts, we need to be extra patient and wait couple of months to things settle down. The volatility is still there on silver and gold and it is hard to predict exact moves in a short term. Silver broken the falling wedge pattern with a retest already as I wrote about in my previous post etoro.tw/3OO7rg4 but failed to move higher prior highs of 90 and formed lower high of 83.3. it is now looking for another low to form - By this I am not saying it should fall below the low of 60, even though it is definitely possible, but it can be a higher low (65to70) - only time will tell. So we may see the next two or three weeks going slowly down again. I was looking for the opportunity to increase exposure to $VALE (Vale SA-ADR) in April, but the stock jumped sharply and I missed an opportunity. I am now looking for a small correction and increase the holding, probably in May. The good thing, at least for me, is that I dollar cost averaged almost at the exact bottom during March - see the comment section. So, now I am looking at buying it when the price falls back to around 16 or below. I will deposit 1% at the start of May additional cash and will be looking for buying opportunities. I am already sitting on some cash. May has historically shown weaker‑than‑average stock market performance, which is why investors often reference the saying “sell in May and go away. We can find some good buying opportunities in the coming weeks. I want to slightly increase exposure to energy minerals sector (oil&gas) and expand the portfolio.

Not investment advice. The author may have financial interests in the mentioned instruments.