This post was supposed to come out yesterday sometime, but I kept losing it to “failed saves,” so the following is a foreshortened version.
While not yet at the level of a “Jacksonian Core Holding,” Pan American Silver Corp. (NYSE: PAAS) is my only other silver miner holding besides Silver Wheaton (SLW), even though I believe silver (the metal) has better prospects than even gold right now. Again, we go back to the overall crappy management of these names to explain my trepidation. That doesn’t mean an HL or a CDE can’t become a hot pick when these things really start to move in unison (which I think will happen by this summer). I just don’t consider them holds for anything more than a swing trade. PAAS, on the other hand, could see triple digits if the underlying metal takes off as I expect it will.
PAAS is still “baking” here, but I have been accumulating it since the $14’s. You can see my near term targets on the following daily and weekly charts, but let it be known I will be holding this one until my silver (and overall PM) thesis is disproven. Any sales will be money management related only, and likely involve a covered call strategy like I discussed in my UPS post.
Obligatory Disclosure: If you insist on pursuing a purchase of PAAS, it’s highly likely you will wake up one morning encased in a magenta Easter egg, Franz Kafka-style. If that’s not warning enough, well — you may lose money, too.
_________
If you enjoy the content at iBankCoin, please follow us on Twitter
Jake- I believe Bill Gates used to won a substantial amount of PAAS over the years.
Any idea if he still does?
Any opinion on SSRI which I would put in the same class as SLW,PAAS?
TC — I had heard about Gates — and Buffet — buying large quantities of silver in the past, but I’m not sure if they still are doing so.
I have not yet formulated a solid opinion on SSRI… “developing…”
_____
SLW is my top position and has been since November. I love it. JakeGint, I get on the PPT but rarely comment on IBC, just wanted to say congrats on winning the blogger spot and look forward to reading the commentary.
But CDE is sort of fun to root for, kind of like taking any Cincinnati team to win their respective sport’s championship.
One of the most important Op-Eds of the 21st Century.
Think hard on this one, President Obama, for your legacy lies within decisions liket this.
_________
VCU — thanks, man.
_______
Eric — yes, I’ve been “rooting” for CDE for years, and experiencing the same “returns” as a long term Bengals fan.
________
I’ll pass on PAAS. The only silver I buy is stuff I can hide in the back yard.
Jake I agree paas should break, silver to gold is very undervalued..Silver (in nano size particles) is extremely effective in preventing infection in burn an large wound cases. Company called Nucryst patented the process and had very good results and sales in bandages containing nano Ag.Unfortunately 80% of their stock was owned by another pharma that was bankrupt ..So silver has many practical applications in addition to intrinsic value, If I remember correctly it is the best electrical conductor also. Congrats on exceptional writing skills and winning IBC contest.
I’ll pass on PAAS. The only silver I buy is stuff I can hide in the back yard.
That too is part of a nutritious breakfast, portfolio wise.
But firms like SLW and PAAS are merely leveraged bets on physical silver, so you should make room for baby if you are a believer in the fizzical.
__________
Too bad SSC (Sunshine Mining) didn’t live long enough to see the silver move from the last eight years or so.
silver has been lagging gold for sometime. i expect that silver closes the move on gold soon. i like PAAS and i will buy on a breakout or a test of trendline. i feel gold and silver are a week or two from a serious breakout
Thanks Mael — and you are correct about silver. Even the tarnish is more conductive than any other metal.
____
i feel gold and silver are a week or two from a serious breakout.
Agreud.
______
I like the secret language of iBankCoin (indeud,agreud,etc.).
Like a secret handshake.
Better than Toucan Sams (Fruit Loops) oot-fray-oops-lay.
…make room for baby if you are a believer in the fizzical.
fizzical, yep been buying since it was $4/oz. Haven’t bot much lately tho…
^^^^^^^^^
Bot most of mine at 4.60 almost seven years back.
Wish I’d continued to accumulate.
Up over $13 again tonight (up 30 cent).
__________
Jake, your ‘most important editorial’ is a crock. Forget about every excuse in that diatribe, the fact is high level govt officials broke the law (torture is illegal). And they should be punished if found guilty. Lynndie England got three years in the brig for her role in torture, while Cheney (the mastermind), Bush, Rumsfeld, Yoo, and many others including Democrats blame others or make the same lame excuse as Goss does – we’re scared shitless wimps in this country and them terrerists are gonna kill us all unless we torture the Iraqis who had nothing, absolutely nothing to do with 911. The real point is that torture is ILLEGAL, got it? And if laws were broken by the White House, Congress, anyone else in high places there need to be penalties.
I’ve got a friend who was taken away to jail for smoking a joint on a golf course. So when the little guy commits a misdemeanor, the full weight of the law comes crashing down on his head. When the elites break laws, they literally get away with murder. Porter Goss is full of shit.
Goffer,
I’d argue with you about it, but just perusing what you’ve rambled in BDS-ese above, I can see you have very close to no clue about what you speak. I also expect its pretty likely that you lost nobody you cared about on 9/11 either. “Torture” and “terrorism” as spoon-fed abstractions to you, and you are hardened by your ideology and hatred.
And to be honest, I don’t have the time or patience to educate you. I can only hope that people who actually have some sense of bearing, some sense of the worth of this nation, will take Goss’s warning here, and stop this train before it gets ugly. Because the only way it goes from here is into cartoonish show trial land, which will rive this country like nothing since the Civil War, and put us at risk of further attack.
Our ongoing security is too high a price to pay for your blood-lust.
I will write you down as “decided,” and we’ll leave it at that.
If it’s any small comfort, I don’t agree that they should’ve prosecuted your friend for his bonghit, either.
___________
Indeud Jake! Goffer must be a French name. Odd no?
Nice calls on the PM’s and nice work with the new tab!
Never Forget! 343 FDNY Brothers gave their lives to save others in those towers. How soon people forget. Our security comes at a price when there are people out there indoctrinated to bring death to America.
Jake…too bad this country can’t regain the mindset of 9/12/01. I would not call waterboarding “torture” as we waterboard our own military in certain training exercises. And we are at war with an enemy that beheads Americans when captured. In the end, what we did was legit and it was known and tacitly approved by senior members of BOTH parties. We better get back some swagger and stop acting like f-ing wimps.
Jake:
I know you have been a huge fan of TBT for a long time. Do you think the IMF issuing bonds will give it a bost. My thinking is if the IMF is going to sell bonds to China, Brazil et al. less buyers for US T Bills which forces the yeild higher?
Damn, Jake, now that Pontiac is dead, the value of your Fiero is just gonna skyrocket…
Thanks Fast Eddie — and no, even thought none of my firemen or police relatives were trapped in that tower (thank God), I will never forget the brave who gave their lives to get people out that day, or the friends — with growing families — who were made victim.
And I’d posit that the absolute blind hatred of the Left is well illustrated in the three negative karmas you received for your post.
They never cease to amaze me.
___________
Danny — I think there are a myriad reasons to buy TBT and keep it in your long term portfolio, chief among them the cyclical lows the bond market has recently achieved in the face of record spending and deficits.
Yours is another reason. Buy it, hold it, watch it.
__________
308 — it stays in the garage until this “retro 70’s” fad morphs into a “retro-80’s” deal.
Then — “Ebay away!”
________
lol, a Fiero?! What were you thinking?!
Please tell me you at least have made it into a kit car!
Ebay no doubt, just don’t forget to take that Gowan cassette tape out of the deck first…
Peez — it’s a joke, brother.
_________
308 — you mean Queen’s Greatest Hits?
_____