Rebate check (2): Vs 200MVA (moving average)
Count your blessing if you do not have to use your rebate check to catch up on bills, go on vacation or fill up the gas tank but nibbling on gold and silver stocks that are below their 200 days moving average.
Mr Fingerman
Picture courtesy of cnnmoney.com
and that is what he said :
“I believe most Americans will do exactly what I plan to do. I will use MY money that the government is simply giving back to me to pay off bills. I don’t think the average American will go out and buy expensive cars or fur coats. I think if we buy anything, it will be a tank of gas for our cars.”
So what are some of the gold and silver stocks which I think have the potential to bounce back from the below 200 days moving average ?
These are a few which I like (please read my disclaimer as I am not a license investment financial and if you want to buy these stocks, do you own research).
1. SSRI (Silver Standard Resources Inc.)
Why I like SSRI ?
Silver Standard controls the world’s largest published in-ground silver resources of any publicly-traded silver company, with a portfolio of properties in Argentina, Mexico, Chile, Peru, Canada, the United States and Australia.
When I first bought SSRI in 2002, it was only US$4+, and at one stage it went up to $45. I blog a post titled : how-i-turned-4733-into-45700-in-5-years-a-wooping-865%
And now it is sitting at $25 level, a retrace of $20, which is (20/45) x 100% = 44%, which is about 1/2 !
From my experience, I think it is a steal.
2. BWLRF (Breakwater Resource).
Breakwater is a mineral resource company engaged in the acquisition, exploration, development and mining of base metal and precious metal deposits in the Americas. Breakwater has four producing zinc mines: the Myra Falls mine in British Columbia, Canada; the Langlois mine in north western Quebec, Canada; the El Mochito mine in Honduras; and the El Toqui mine in Chile.
It was at its height mid last year $3.75 and it is $1 now. $2.75 retracement which is (2.75/3.75) x 100% = 73%
Bear in mind, Breakwater is an exploration company !
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