HL - miners bounce

With the main market higher, and the USD seeing all its morning gains evaporate, the precious metals rallied from earlier lows. That no doubt greatly helped the miners. Hecla Mining (HL) closed +7%, settling @ $3.82. Primary trend remains downward though.


HL, daily, 8mth

HL, daily, 5 year

Summary

The miners remain under severe pressure from a US currency that is strong, and that keeps downward pressure on commodity prices, especially Gold and Silver.

Hecla itself remains one of the more important (and financially solvent!) Silver miners, and certainly looks like it has a very good long term future.

Yet, price trend IS generally to the downside.

If the main equity market - along with the precious metals stumble in the mid-term..and if any 'unravelling' occurs, then HL could fall all the way back to the 2009 low of $1

At that price, it would arguably be a screaming buy, just as it was at those collapse wave lows.