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
the following article explains why Silver price will be much higher. So PAAS will be much higher for sure.
Sentiment: Strong Buy
I guess that means the sleaze jokers at Canuckcord are WRITING worthless PAAS call options, again!
Sakhaneft, you present a reasoned argument for continued growth, expansion and success at Pan American Silver. You offer a reasonable expectation for anyone believing that silver has become too cheap and dollars too expensive. And, for anyone believing the contrary, I believe these shouldn't be buying silver shares.. at all. The management of Pan American follows a professional approach to cautious yet aggressive planning and execution. Missteps can and have been made in the past, but learning from past errors is worth a considerable amount if the lessons produce solid results and a firm footing for the future. Thank you. dcp
Management delaying is a prudent decision but I feel once silver starts moving closer to 30 within 52 weeks this decision can be altered. Folks, do you realize what this project does to cash flows at 30 dollar silver. With the expansion done, financed internally, we are talking a 38% increase in silver production. MASSIVE!
If you, like I, believe silver will be at 30 bucks, this is simply a steal here and will be a 60 dollar stock at minimum.