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« Buying Stocks: A readers concerns | Main | The Federal Reserve: Putting out a fire with Gasoline »
Wednesday
Sep122007

Pan American Silver Corporation: Up 6.92% in one day!

PAAS Coins


This $2 billion silver stock performed yesterday like a sprinter putting on $1.73 for a gain of 6.92%.

Pan American Silver Corporation (PAAS) has been recommended on this site many times and as recently as 23rd August 2007 in an article entitled ‘Pan American Silver Corporation: Buy’ when we said:

“Now just look at this chart, it clearly demonstrates that PAAS has been oversold for no other reason than a general market sell off.

We made a further purchase today at $24.10”


PAAS has now moved up from $24.10 to close at $26.72 for 10.87% gain in around 3 weeks, which has pleased us very much.

Be prepared for volatility as nothing goes up in a straight line except taxation. Silver has started on its migration north and it will get there but the journey will be bumpy to say the least so its time to put on your best hard hat.

Don’t forget that class is forever and form is temporary. We now need to see PAAS challenge and overcome its old highs and to go on a real white-knuckle run to higher ground.

We hope that you are enjoying this little adventure of buying stocks, obtaining silver quotes, checking the silver futures market with one eye on gold futures, etc. Read as many stock market reports as you can before buying stocks after all its your investment account and your cash, so make sure that you are well informed.

Pan American stocks are traded on the NASDAQ under the symbol of PAAS and on the TSX in Toronto under the symbol of PAA.

Have a good one.

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