|First Majestic Silver Corp. - FR.t owns and operates three producing silver mines in Mexico; the La Parrilla, San Martin and the La Encantada.
Production from these three mines is anticipated to be 7.3 million ounces of silver and 0.3 million ounces of silver equivalents in 2011.
First Majestic Silver Corp - FR.t
Thanks for posting the blip/link to your blog about AG. whats the point you want to make?
A good newsletter I follow, which likes AG is recommending folks buy it now because something 'good' is likely to make stock jump next week. I like this newsletters due diligence. and I own and like AG (bought at 3 dollars ) but the current 'lows' at this 14 dollar zone Do Not look low enough to my charting vision.
The last meaningful low pivot was this years January/feb low around 10.50 area....I just examined the weekly chart.... this price point is still in play...and the greater neckline and buy zone looks to me like the 12.50 area...... between 12.50 and 10.50 is where I would look to buy more. and big resistance on top around 19-20 area.
the Range is 10 low to 20 high with 15 in the middle.
It takes time for the true value to evolve....hyperbolic moves yield parabolic falls. the substance of the uptrend is always a 40 * angle incline...over time..... and the next 'low zone' to buy is not really here at 14 it is lower.....12 to 10 area. which might be next February after the January sell off or next spring or summer..... be patient.
I am very tempted to trust Casey's recommendation to buy here before the anticipated news related pop next week....but my spidey gut, after looking at the chart is saying.....No....stick to the technical on this one...... the chart has been telling all year....wait for a real pullback that Completes around 12 to 10 area. 14 and even 13 is not fully baked .
For first time buyers I suppose 13 or 14 is ok..... but for those who bought their core at 3 dollars or lower...... 14 looks very expensive. In a market crash , global crash, world war crash....where would AG fall to.....at least to 10 and maybe collapsing lower still.
Like alot of charts these days..... this one looks like the time flow is still sliding down over a longer time period, looking at spring , and the weak season of summer...... many miners might just keep sliding sideways and down for the next whole year. or at least half a year .... like theyve been placed in a slow cooker. Last fall 2010 was a rocket ship. this season now has been a slow cooker.
But its all just a guessing game.