And just to give ALL gold and silver BAGHOLDERS better perspective, the PAAS joke is trading 60% BELOW all time highs during a time when Dow and Nasdaq favorites have jumped 300% in value, on average.
That makes PAAS dismal stock performance, along with all other USELESS golds and silvers, amongst THE WORST OF THE WORST!!!
Today---and proving PAAS doggie remains in a vicious BEAR market and proving that ALL weak bounces in the sick silver joke are nothing more than DEADCAT BOUNCES, 100% CERTAIN to be ERASED in a heartbeat!!!
One of the most OBSCENE mega bubbles in stock market history!!!!!
$20 PAAS stock quote by September. Middle East is falling apart quickly. 12 days until IRAN is due to turn over its nuclear weapons grade uranium. IRAQ and SYRIA in disarray. EGYPT a basket case, SAUDI ARABIA facing coup threats. JORDAN to be attacked next by ISIS next. ISRAEL at war with PALESTINE. etc. etc. IRAN already invading southern IRAQ, with little news reporting. KURDS creating new nation as we speak. AMERICAN influence on events collapsing. Attacks on USA proper to escalate by year's end. WAKE UP PEOPLE. Gold and Silver could easily double the next 6-12 months as oil flows out of Middle East implode.
Sentiment: Strong Buy
Otto, I dare you to short 10,000 shares out-right.. and if you don't have the cash.. I think you should sell naked calls... I'll take the other side of your bet and I bet that you lose.. BIG TIME! Happy 4th of July, America!
NO rationale of any kind for this silver mega bubble to trade a penny higher than 1.00 per share, given the complete inability of golds and silvers to serve as "flight to safety" assets today!!
Moreover, RELATIVE to its FAILING silver sector, on that basis alone, it is amazingly overvalued!!
That makes ALL golds and silvers effectively WORTHLESS!!!
Sakenhaft, much appreciated benefit of your current technical analysis. Your timing couldn't have been much better for today's range. I sincerely do get a better feel for the day to day ebb and flow of a more thinly traded market further narrowed in a single mining issue using your approach. You have made a longer term calculation and are using Pan American in this regard as a trading tool as well. My hat is 'off' to you! Thanks so much for keeping the faithful few in your thoughts. I too, believe that we will see a sharp pullback one time further and I also believe it will come sooner, rather than later. Should this test hold, as I am confident it will, the fall months should prove interesting and profitable on the long end. Good luck to you and all herein. dcp
Sentiment: Strong Buy
I took a look at the referenced data...decided to take some silver bets off the table too, like you, just short term I think.
like I wrote...this is not a rec, just my view. When commercials are this short silver and specs this long, usually commercials win. I see a correction.
paas yesterday broke through a resistance level (around 15.23) that has been in place for over a year. If it holds this for a few days I'd say it gets over 16 in a hurry. You may get a pull back and be able to get back in at 14 if you're nimble, but the chart, to me, is saying this is going higher.
Also notice this rise in the miners is not getting a lot of media play. Sounds like some accumulation is going on to me.
The COT reports showing commercials maximum shorts while specs are way too long. My average is at 10.50 now so just booking a profit. Hope to buy them back at 13 level. I may be wrong but usually these commercials are always correct. In no way is this a rec to anyone.
Sakheneft, a good strategy indeed! Don't forget to put some physicals in your tupperware!
its looking v good indeed and I for one have doubled my silver position over the past 6 months from 22 down to 18.80. I buy PSLV.
Now for the shorter I believe we are overbought and will go to 20.50 range so be prepared to add at that level for the longterm as i see a break to 23 after that, and 26 thereafter.
I would love to see a 30 close for 2014 but doubt it. Id be happy at 26.
As for PAAS also overbought and can see 14 with the coming dip in silver. I will likely add a bit at 14 for the longterm...as got stopped out earlier on my trading position. (unfortunately )
I see PAAS at 18-19 by year end.
Longer term, I see silver at 60 and PAAS as a 7 bagger for me from my cost of 10.50.
At the moment its the only share company I own. I hold gold, silver and PAAS in that order.
Really appreciate DC's input...keep up your comments my friend.
Look at Silver price below. Very solidly going up.
Today now 6/27: $21.155
Sentiment: Strong Buy