IvanLabrie
Long

PAAS: Go long on strength

NASDAQ:PAAS   PAN AMERICAN SILVER CORP
a month ago
We 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.
a month ago
Trade active: I accidentally market bought at 15.44 when placing my trade entry, oh well.
Trade is now valid.
a month ago
Comment: I'll watch how it evolves here, we could hold this for some more if XAGUSD keeps going.
a month ago
Comment: I'll book this one at the open today, or just trail stops up.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
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