Silvercorp Metals, Inc. (SVM) - Aggressive Growth Profile

stink bid today?  got further to fall?

buy when others are fearful . . .

Looks like we get the gap close today !!!!!

Bastards !!

Gap is closed. First tranch of SVM for trading bought at $9.04. It doesn't have to be over. Traders are now salivating at the gap at $8.10, which would make for a nice double bottom. Bulk of cash still sidelined for possible lower prices. I'm in about 25% of position. I won't be looking to buy more until price drops below $8.70ish. If it doesn't get there before 10:30AM tomorrow i'll reaccess and maybe start building on my current position at a different price.

Good call Puregold. But you should have told me about the collapse in all of the market.

Yeah, what have you done for me lately! Just kidding.

Anyone doubling down yet, or are you waiting to see what Friday brings?

EPS came in below analyst estimate for the 2nd quarter in a row.  The market just doesn't seem to be too high on this company even though the company (and many of its shareholders) believe its SP is undervalued.  Hard to explain. 

One line caught price today. If it doesn't hold here price will be looking for $8.10 and then $8.03. If these fall, the lower BB currently at $7.78 and the lower blue trend line will be worth keeping in mind. There are many more trend lines but I'm watching these at the moment. I didn't bother with any upsloping trend lines since the indicators aren't pointing in that direction at the moment. Would like to see lower prices coupled with one or more positive divergences forming on indicators.

I still don't understand why the PM miners are taking a beating given the current economic news: i.e., going back into recession, high unemployment, European troubles, growing deficits. These are all bullish for the PMs. 

According to Sprott, most PM mining analysts are assuming that the PM prices are artificially high and are using much lower prices (he said silver in the 20s) to value the companies. 

I don't agree with that analysis so I'm bargain hunting at the moment. I'm just a bit afraid of this fall, so I'm still mostly in cash.

Mouser, I agree with everything you write. That is why I hold a long-term position, but it is still a very tradable stock. I trade it to make cash to buy physical and to add to my long-term position.

I went in big at the gap close at $8.10 as I mentioned in this thread on August 2 (100% of cash earmarked for SVM + margin up the wazoo). It's a no-brainer trade. A gap close combined with a double bottom. I've already sold most of that position at a sizeable profit that will be used to buy physical. I sold because things are too unstable here. The remainder will be held until a signal either way becomes clearer. SLV still has lower gaps and I'm not seeing enough positive signals to convince me to hold more right now.

I should maybe point out that I only trade SVM, AGQ and ZSL. Nothing else. I hold other things in my long-term portfolio, but I exclusively trade SVM, AGQ and ZSL. I'm actually more of a gold guy but there is more money to be made trading silver related securities because of the volatility. I never short SVM. It would be like me going to my son's football game and betting against him because I think the other team is the better team. It would be bad mojo. I'm always cheering for SVM, so I am in no way ever encouraging anyone to sell SVM. I've reduced my trading to these three stocks as they have proven to consistently be my best money makers. Spending time watching other stocks looking for trades is essentially a waste of time for me. I watch other things (I've mentioned SLV a few times) to get signals that paint a clearer picture for me of SVM.

I am happy to find this SVM thread here. I have been posting a lot these last few days but don't want to clog this thread if the regulars here prefer it not to be so much about trading. You let me know and i'll zip it.

Agreed. I don't know what the hell you are talking about yet Puregold, but I am trying to learn. (filling the gaps) Everyone is here to learn or help in the learning process. No worries man.