CDE

CDE, Coeur D Alene Mines update

Hamilton

Then – Sept 14, 2012 – and now charts, as usual.

cde sept 2012cde july 7 2013

See also the previous blog on this stock. We called for a high of, say, $31, so it got to $32, but in the meantime you have saved yourself  more than 60% of your money by exiting the position. Silver itself, is down from just under $50 to just above $18, a little over 62%. If a new low in the stock occurs it looks to be a buy for a bounce to at least $16. For non perfectionists you can buy it right away. Platinum PPLT also did exactly as predicted, see same blog.

CDE, Coeur d’Alene Mines

Hamilton

cde sept 2012cde b sept 2012

Coeur d’Alene is an interesting high Beta precious metal (silver) stock. Had you bought this as a hedge against the financial market falling apart you would not be a happy camper given that you are left with about 1/3 of your money. As far as the future is concerned this stock might give a hint as to what is in store. From the big chart it is clear that this stock has made three A-B-Cs in succession leaving us guessing what the next move might be. The shorter term chart shows the last A-B-C in more detail. Superficially it looks like an A, triangle B and then a C equal in size to the A. There is a problem with the triangle, the e leg goes too high but lets ignore that. Looking at the RSI (Relative Strength Index) the stock is more overbought than any time in the past 3 years. It is doubtful that the stock will trade above , say , $31 where it is already up by about 100% from a month and a half ago.

A similar message can be drawn from the platinum ETF PPLT;

pplt

It is by no means clear that this one should go up much further, in fact it looks like it is about to reverse. The light is still amber in our opinion.