4 Silver Stocks that Deserve Attention
It appears the market has given up on silver despite the turmoil that could inflict the market with a looming March 27th deadline and today's Sequestration March 1st date. When there is weakness, there is opportunity.
Mastery talked up silver and our choices for going long on the metal and miners last week. We turn that focus on those same names as they have all fallen since that time. For your cut and paste convenience here are the tickers we want you to review: EXK, SSRI, MVG, SLV.
All but MVG are trading near their 12 month low. The 411 on the share price and where they sit is as follows:
- Silver Standard Resources Inc 's (SSRI) is trading at $9.85 and 2.13% from its 52-week low.
- Endeavour Silver Corp 's (EXK) is trading at $5.59 and 1.43% from its 52-week low.
- iShares Silver Trust 's (SLV) is trading at $27.69 and 8.49% from its 52-week low.
- MAG Silver Corp 's (MVG) is trading at $9.35 and in the middle of its 12 month range.
Despite the Hater-Aid being poured on silver and its friends, we want you to consider them. The bears are tearing into silver and that is just fine.
Silver may extend this year’s 7.6 percent drop as it nears a bear market, according to technical analysis by Commerzbank AG.
The metal slid to $27.975 an ounce in London today, the lowest since Aug. 20. A close at $28.007 would be a 20 percent drop from Oct. 4, the common definition of a bear market. A slide below $28.26 in the next few days would mean the June 2012 trough of about $26.11 would “be back in play,” Commerzbank said in a Feb. 26 report.
Perfect, silver is going to zero. Believe everything you read. Silver pennies will be printed by the year end because the metal will be all but useless. More to come.
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