Years of research consolidated for you
Friday, April 15th
Here’s an example of Political Risk
Coeur D’alene Silver (CDE) above and PanAmerican (PAAS) below on the news of the nationalization of silver mines in Bolivia by Chavista Evo Morales. Yesterday, I mentioned that I had sold BVN on the news that Ollanta Humala was one of two run-off Presidential candidates in Peru. Reasoning is show clearly in the charts above.
Those crashes of very good silver miners on a day silver soared are sobering. None of my sell stops were hit yesterday but they came close…silver is up over $42 this morning so I raised them all.
Old friend AG and a potential AB=CD projection to $34…we’ll have to wait and see but it should be long showing up. If AG breaks $26.68 on volume, it will likely have a run. Again, these are my opinions and what I am basing my actions on-you must make your own choices. Sorry that I couldn’t make the extension work and I think the angle of rise will be much steeper but this ascent is a real possibility.
Meantime, it will become increasing difficult and expensive to buy the real thing-but begin a small position just to get started-physical gold and silver is the safest thing-Evo Morales did not harm anyone who owned actual metal.
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