Underground Stock Alerts* (google em) just came out with a detailed report on PAAS today - I recommend any fellow shareholders here sign up immediately and wait for the next update, last time they alerted a stock as a buy it went up 1350%, and last two times they put out sell ratings the stocks dove over 75% - don't be the last to know and get screwed, I learned my lesson on their AAPL sell alert, and GOOG buy alert sub $300
Not trying to be a Pollyanna, but the default might been good news if it led to a new less anti-mining government. And PAAS did hold up a bit better than most miners in today's swoon.
We are right at support in gold and silver...Getting v interesting. Im glad I bought protective puts in GLD and SLV although really want to get back my position in PAAS so hoping we can rally from here and not break down. Should be a very interesting few days.
Sakhaneft, you'd think all things precious would track a logical track but I've come to learn that even when a trend is in place, short and medium term gyrations are not the exception, but rather the norm. Let's get everyone thoroughly disgusted, disinterested, and disheartened and then you get the herds attention and the run begins anew. I've given up trying to second guess this market. Keeping the faith has kept us primarily value investors.
Argentina has not attempted to address it's long-term problems and ignoring debt is not likely to help on even the shortest of near term solutions. I know that there are a lot of Kirshner Socialist fans out there, but even the most devout of our socialist/marxist cousins are seeing the truth in the understanding that socialism works only so long as you don't run out of Other People's Money. That's when the poop hits the fan.. Oh, easy to point to Argentina and Venezuela and Bolivia among many others who devoutly believe that Communism is the inevitable wave of the future. I believe THAT BOAT has sailed MANY YEARS AGO. Of course, I could be wrong.. but haven't seen evidence to the contrary.
looking at all of the key mining stocks, an interesting dichotomy has formed. with silver at these low prices, and the mining companies losing tons of money (pun intended), one would think that their stocks should be utterly collapsing even from these levels or even some of them going outright bankrupt. but the opposite has happened. most all are up moderately from previous yearly lows and are actually rising! I get the feeling that this is quiet accumulation by the big guys on a broad scale. which suggests that a MAJOR up move is shaping up possibly even this fall. the only danger spot under these circumstances is the October mutual fund end of year. most funds don't want persona non grata mining companies on their prospectus / in their protfolios. on the other hand October is a bad month (the death month for everything) and that might be a perfect spot for a serious, long overdue general stock market correction. LEAP options would be a safe way to get one's feet wet and still have a measure of safety if the price of metals disappoints again.
Hourly, I believe you've made some reasonable assumptions regarding 'accumulation' in silver miners. If we are to believe that $1330-50 is a gold target (prior to lows retest) we could expect similar weakness in silver during this august-september time-frame (along with the real potential of the long-overdue and anticipated 20% general stock market correction in Sept-Oct. If things can be read this easily, we are obviously going to get a monkey-wrench thrown into the equation somewhere along the way.. but what do I know?