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« Hecla Mining: Take Profits | Main | A Readers View: Why Silver? »

Hecla Mining: No Correction Yet

Silver and silver stocks have been going through a small correction recently but not all silver stocks are following suit.

HL 221107

Hecla Mining has not gone through any real correction as of yet, despite the vast majority of its peers seeing drops in their stock prices.

Take Silver Standard for example, this stock has lost 20% in recent trading but its not alone as the majority of the sector is taking a breather after such a great rally since the summer.

SSRI 221107

Pan American Silver and Silver Wheaton have also corrected slightly.

PAAS 221107

SLW 221107

Therefore it is likely the Hecla could correct soon to step back in line with other silver stocks in the industry. The technical indicators for Hecla are all overbought with the MACD, STO and RSI trading at the top of their range. Hecla is also trading way above its moving average lines and a fall back towards these levels below $10 is likely in our humble opinion. Therefore if you are thinking of purchasing a position in Hecla, it may be a good idea to wait a while until Hecla falls back to the levels of its peers.

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Reader Comments (1)

Dear Sirs,

I'm sure you are right about Hecla. However, it is a survivor - perhaps you may not remember - but Sunshine Mining hit the dust some time ago during the lean silver years, and left me in a nasty loss situation.

Our own philosophy - having sold SLW and PAA, profitably, is to purchase the juniors, notably EXN, IPT, PRO and AGQ, IMI, (all on Vancouver), which are all active in Mexico, whilst IMI has a big position in the old Cobalt camp of Northern Ontario as well. We feel the upside (and of course, risk) potential is much greater with some of these juniors, and if, as we all seem to be, we are very bullish on Ag. then what do you feel about these ideas?

Best regards,

D.J. de S. Moore,
Bullion Investments Ltd.

November 24, 2007 | Unregistered CommenterD.J. de S. Moore

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