some great post dc, I would like to see your charts and post. Consider posting charts at https://groups.yahoo.com/neo/groups/silvertrading/ , would welcome you to the group as well as others from the paas board
The main chart upon which I would like to focus is the daily silver chart. Take a look at the pullback we have seen thus far, which really does track quite nicely as a corrective pullback. While there is still potential for one more lower low in the micro count to be seen, it is not necessary, and we can consider the pattern as just about completed to the downside at this point in time.
Specifically, if you look at the daily silver chart Slow Stochastics, we are in the bottoming region. Normally, this would concern me as the stochastics traditionally imbed down here, but that is only in the heart of a 3rd wave down. And, due to the manner in which we have dropped from the highs, this does not look or act like a traditional 3rd wave down. Furthermore, the RSI is now moving into a bottoming region we have seen set up rallies in the past. So, ultimately, as long as we do not see a sustained break of 15.80 in the silver chart – which I have mentioned for the last several weeks - I will continue to look up for a rally to take hold.
Commenting on the Facility, Rob Doyle , Chief Financial Officer, said, "I am very pleased with the positive response that we have received from such a strong banking syndicate. The ability to borrow US$300 million adds further to our already healthy liquidity position and bolsters our financial strength and flexibility, which will allow us to quickly respond to our future funding needs, whether it be for organic growth projects or for future business development opportunities that may arise."
Yep, that was a good answer. Here is the bottom line after some research and interfacing with Ameritrade. So I had to file this form for both Regular and IRA account. Form NR303. "Declaration of Eligibility for benifits under a tax treaty for a non resident taxpayer". This exempts me from any sort of taxes on dividends in my IRA account. On the Regular account, I will still pay the foreign tax on dividends (15%). When I file my taxes for next year I have the option of reducing any sort of capital gains by the tax amount or better yet, I can get a tax credit for the payment, in which case I will get the full amount of taxes paid reimbursed. To me it seems like a lot of paper work when I just get back what I paid. But me thinks that the US Gov't also has an ulterior motive to keep track of foreign investment of US citizens.
You get a credit but you're definitely paying taxes on the dividends. Only certain countries do not withhold this tax in IRA accounts, when they do it is lost forever. Canada is one that is not supposed to withhold so in general Canadian stocks in a US IRA should be good to go. Definitely avoid WH in an IRA account where you get no credit for it. A good reason to avoid risky stocks in IRAs where capital losses cannot be deducted.
The Foreign Tax Withholding will be deducted from your U.S. Capital Gains, if you have any, which is very unlikely when you try to sell this piece of crepe falling rock stock. JPM will not allow it.
It was a nice pop and it is all gone because some fed clown opened his mouth. It is amazing how silver gets crushed when the fed sneezes.
How long will they be able to pay the divvy?
I can't imagine it going on for much longer.....50 a share is a lot of money in this horrible environment for miners.
So it appears silver may be doomed. Even a little hint of a fed rate hike and it gets hammered. What is going to happen when they actually do raise rates? Is it going down to 10 bucks? How can these companies even survive? The world obviously needs silver but why would a company stay in business just to lose money. I guess supply and demand is not in play with silver as it appears it is completely controlled by speculators and ever little word out of the feds mouth.
Astute traders are carefully watching ABX for where PAAS is going next. NEM was the leader in the last major upthrust.. that leadership role is now switched to ABX. 321 gold (Thompson) discusses this at length with graphs and charts. In the current situation, rate hikes are not bearish for gold prices. They’re bullish, and here’s why :
The Western commercial banks are sitting on huge reserves of cash. They built those during the Fed’s QE program. Money supply increased, but velocity decreased, because low rates hinder bank profits. That created deflation. Deflation has continued, because the banks have no incentive to loan out their enormous cash reserves, but I think Janet Yellen plans to change that situation.
Many economists think potential rate hikes are a result of the Fed responding to “strong US growth”. There’s no question that the US is in an upcycle, but productivity is at 1930s levels in the private sector, and much lower in the huge government sector. It’s important to understand the difference between economic recovery, and a simple upcycle. The US is experiencing the latter.
Some analysts think rates will rise simply because the Fed needs the ability to cut rates in the next down turn. That’s the daily chart for Barrick Gold, and it looks superb.Most investors are focused on the $1220 area for bullion, but I think the Barrick chart is now the lead indicator for the entire precious metals market. Newmont lead the first rally of 2015 for gold stocks, but Barrick is now poised to take the leadership baton, and lead most gold stocks and bullion, to higher prices.
Watch the $13.30 area on that Barrick chart very carefully. A move above that level could ignite a powerful rally in ETFs like GDX-N, SIL-N, and GDXJ-N. If Barrick can surge above $13.30, I think gold will quickly rise to $1255, and maybe to $1300. Be prepared for rate hikes to create a shocking rise in money velocity, and inflation!
You will get back full amount of this withdrawal, when you file your U.S. taxes. The number, "foreign tax credit" will be in your 1099 brokerage form. Remind your accountant to record it properly.
Looks like this silver rally won’t even last a day as they do sometimes. The dollar is coming back and silver is going back down. It seems as usual we will not get any kind of sustained rally at all. Unreal!!
I just noticed on my most recent dividend pay out from my PAAS holdings, that I got pinged with a 15% Foreign Tax Withholding. Is there anyway to avoid this? I hold PAAS both in my regular account and an IRA account. The IRA account did not get charged. In my opinion, neither of them should of. I vaguely remember filling out this form for the Canada Revenue Agency: "Declaration of Eligibility for Benefits under a Tax Treaty for a Non-Resident Taxpayer". I thought that form would exclude me from any sort of tax withholdings on dividends. I filed this form with Ameritrade. Anybody have experience with this?
Ted, Morgan Stanley continues to expect lower prices for gold and silver however just today... Monday April 6, 2015 12:38 PM as gold speculative buying remains strong and silver buying reaches its strongest level in six months, Bank of America Merrill Lynch (BoAML) analysts say they expect buying to continue. “Large specs bought gold contracts increasing net long positioning. Specs also bought silver contracts at the strongest pace in more than six months to increase net long positioning,” they say in a research note. “The repeated impulsive advances from the 1143 (Mar-17 low) says the gold trend has turned bullish,” they add. They say upside targets for the metal stand at $1,307/oz and $1,345/oz, and “potentially beyond.” The analysts add that pullbacks for gold shouldn’t break below the March 31 low of $1,178.57/oz. For silver, they also say the trend has turned bullish. “Pullbacks should not exceed the March-31 low at 16.45 and can’t break the Mar-17 low at 15.39. Next major resistance comes in near 17.68-17.80 (200dma and chart pivot) through which opens a move towards 19.00,” they add. By Sarah Benali of Kitco
But I'm happy there seems to be a sharply divided outlook for the precious metals. Got to have minds to change in order to keep prices rising, right? dcp