It looks like silver has finally stopped going lower, offering respite to beleaguered silver miners. Shares of EXK and AG (my favorites) are sharply higher. But is now the time to buy?
I’d wait.
Although I thought buying in yesterday might have been a good idea, I wouldn’t chase EXK +6.6%. Just to give you an idea, silver and miners alike were flagged OVERSOLD yesterday inside The PPT. Members were fully alert to this distinction. I opted not to play, only because my plate is seemingly full. Nevertheless, the information was conveyed.
Using our 6 month time frame algo, each time (5-0) EXK was flagged OS the stock surged ahead to the tune of +10%. So, seeing the stock up nearly 7% today, well, that takes the wind out of those sails rather quickly, doesn’t it?
On the other hand, AG shares the same track record, averaging +9% after OS and is only +2.8% today. If you want to take a shot in silver, AG might be the better play, from a risk/reward standpoint.
As for ZSL: it was flagged OVERBOUGHT yesterday for the 16th time in PPT history. The results after OB: 1 up, 14 down for an average loss of 14.5% over 10 trading days.
Mathematical precision.
SHOMP
Awesome gauges. Got GOOG?
Yes.
Any thoughts on SVM? It seems to have been bludgeoned worst than the rest of them.
stay away from chinese burritos
no burritos
I “nibbled some NUGT” yesterday AND posted it. 😉
MAKO broke the fuck out a little while ago, looks like it is gonna take-off through tomorrow.
Thanks
Let me guess, /TF will close at 745 and gap over 751 Monday.
I think you should make a cartoon featuring Alf speaking erratically and stuttering before meeting his demise.
Fly – is there any way to insert Polls into the posts / blogs?
Would be interesting to gauge sentiment of the readers.
I’m glad you put this out, as I was reluctant to share the insider information.
I added to EXK and AG and AAU this afternoon, fwiw. Yesterday’s PPT readings were no small part of my decision.
I just got back from another flame broiled day and was able to put out my 2012 Stock of the Year pick.
Truly, it is more my Stock of the Decade, but you will note that despite my argent ardor, it is NOT a silver miner…
Heh.
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Oh, and I also bot ANV today, on what I think was a double bottom today. I don’t think it gets much cheaper than this.
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Discovery channel canceled their series “Silver Rush”.
O’Bummer.