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.

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