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Endeavour Silver Corp. Message Board

  • scoylesays scoylesays Jan 25, 2013 10:48 AM Flag

    How low will she go?

    i bought this since i thought 7.60 support would hold and it seems i was wrong. i got out at the open at 7.45 and 7.41. that 7.50 looked tempting but i was too slow. it's so hard to hold and close my eyes i know these are great prices it's just a matter of where she finds support and bottoms. another reason i got out was because silver broke through the fibonacci trend line at 31.50 and is heading lower. i'd rather minimize my losses and buy in cheaper if i can. but i'm still bullish on this long term. i guess now that i'm out i am hoping it tanks (sorry!)

    i'm an amateur when it comes to TA but since it just broke through the 7.25 and is making a new 52 week low we have to be wondering where is it going to stop? i am looking at the 5 year chart and the last time exk was below these levels it was in the midst of a breakout from a 5.72 low. so 5.72 would seem to be where the major support would be at. however stoxline is showing exk support at 6.08. so what do i know. where does it find support any guesses?

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    • Just my opinion, but I don't think,you can go wrong buying near the 22 month low of 7.25. Last time it was anywhere near that price, silver was significantly lower priced than it is currently. If you are waiting for $6's, you may wait forever.

      Sentiment: Strong Buy

      • 1 Reply to steverbush
      • that's the thing. i agree that it's a great buy and buying it now is almost like buying silver when it was at a 52 week low. that's why i'm intrigued by this play. however exk has not followed suit with a rally along with silver and that's why we're getting these cheap prices. Is there any particular reason exk has underperformed so much to the spot price? exk seems to go down some days along with the miners in general even when silver spot is up. gold miners have the tendency to do the same thing at times some gold miners aren't that far away from their 52 week lows as well. so miners in general seem to be out of favor and well off their 52 week highs.

        That being said now what IF silver was to fall back to 30? or 29, 28 27 again? what would exk do in that scenario given how it's trading now? will there be a limit to how low exk will go in relation to the spot price? I have a feeling IF silver was to go down and test 30 again exk would be making new lows along the way. That is just the trend. The miners are in this downtrend together but only exk is hitting new 52 week lows. Another question how will the miners react if the stock market takes a major correction. we're at 5 year high's on the dow and s&p.

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