T2 (the 2nd and final target) on SIL has been revised to a target zone to include this previous reaction low. As SIL is up 29% from the last posted entry, consider booking partial or full profits in SIL as well as most or all individual mining stock as the near-term R/R profile is rapidly diminishing. Personally, I have just booked profits on the last of my mining positions and even taken a small short position on GDX (via puts and DUST). However, my trading style is both active and aggressive & in no way am I suggesting that anyone do the same. I simply want to impress the fact that I believe that with both GDX and SIL now approaching key resistance levels while very overbought in the near-term, the risk of a sudden and sharp pullback due to profit taking in the sector is quite elevated at this time. Here’s the previous chart showing the last entry on SIL as well as the updated daily chart with a slight revision made to the final target. SIL will now be considered a Completed Trade with a possibly re-entry for a new trade soon.
