Tuesday, August 2, 2011

Email Update from last week - Fortuna Silver

Sent to subscribers on 7/27 along with this chart.  FVI subsequently pinged support and reversed.  Come on and subscribe.  You know you want to.  ;-)  BTW, First Majestic (AG) was subsequently added although for the moment I am SLW-free.

"For anyone interested, FVI.to/FVITF is coming down to a logical point of support.

This is a stock that has been well vetted and highly thought of by Otto at IKN, among other notable and reputable analysts.

Unfortunately, Fortuna was one of the 'core' items I decided to re buy 'as is', without waiting for downside opportunity.  As you know, the way I manage the portfolios, I must have certain core items regardless of my views on potential corrections, as long as I perceive an ongoing bull market.  So I will think about reestablishing things like SLW and AG in due course if the analysis remains constructive on silver in a bigger picture.

Generally, I favor gold stocks now, but would like to have a few of the very best silver stocks as well.  The attached chart shows the support level that would-be buyers might consider an opportunity.  Risk (for traders) is controlled with a loss of the green support area.


Regards,
Gary"






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