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« Endeavour Silver Corporation: Hitting Targets! | Main | Portfolio Update 25 January 09 »

Silver Standard Resources Incorporated: Take a Breather!

SSRI Chart 26 Jan 09

Chart courtesy of

SSRI might need a breather having come from sub $6.00 to $20.27 in a short time. The technical indicators suggest that SSRI is now overbought so you might want to take some profits off the table if you are a short-term trader. As for us we will continue to hold as this stock is part of our core position.

Next week sees a raft of results hitting our screens, which will be of the negative variety so a sell off in the broader markets might possibly ensue. On the positive side the markets need to hear more from the new president on how his administration will deal with the problems the globe now faces. Gold and silver have opened steady in early trading in Sydney this morning and if they can maintain their recent gains we may not be thrown out with the bath water this time. Either way it is shaping up for an interesting week!

Silver Standard Resources Incorporated can be found on the NASDAQ under the symbol of SSRI and on the Toronto Stock Exchange under SSO and has a market capitalisation of US$1.27 billion with 62.69 million shares outstanding, with an average volume of 1.4 million shares traded.

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