PAAS: Go long on strengthWe have a nice chance to enter longs in $PAAS here, if we break above Friday's high, we'll have a chance to retest the resistance above, as the arrow indicates. Risk is a new low, so the stop is really tight.
$PAAS has some of the biggest mines, and low operating costs, although still not profitable, so, it's not suitable for longer term investment unless you size it below 5% of your account. Here, the tight stop is ideal for a swing trade, but not for long term trades, and since I think it's likely to have sideways price action in metals, for some time, this is the type of trade I'd like to take in the sector.
Good luck,
Ivan Labrie.
PAAS
PAAS: What goes up...I don't think PAAS investors will be able to prove Isaac Newton wrong here.
Silver shows potential for a downtrend in the intermediate term, which makes me think it's time to short PAAS.
Entry is at market, with stop at the highest high + 1 tick. You could also look to short calls, or other option strategy, but I'd rather short the shares. We can aim for the 15 handle, with aid from Tim West's Key earnings support indicator. If we cross the earnings level below price, we can be sure this drop will materialize.
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Cheers!
Ivan Labrie
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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance-0.46% on such information.
GOLD Nugget BULL on the run, wait for a BULL pullback firstLooking for long term trade entry around here, between $46.50 - $48. Will it ever come back to this level, only the $GLD Gods know. Check out $PAAS, $AUY, and $ABX for the next BULL pullback!! Let's make some fiat $$$$!!
PAAS going bullish with GLD, AUY, NUGT...GLD looks like it has room to run so a breakout of this area is good odds and a potential long buy for PAAS, AUY, NUGT...
