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« Hecla Mining Company bombs on news release! | Main | Endeavour Silver Corporation: Hitting Targets! »
Wednesday
Jan282009

Hecla Mining Company: MACD Makes a Crossover

Hecla Chart 29 Jan 09

Chart courtesy of StockCharts.com

As we are holders of stock in Hecla Mining and have also recently purchased a number of Call Options we are monitoring Hecla’s progress on a daily basis.


On January 9th, 2009 we purchased a small number of the March 2009 Call Options (HLCA) for $0.10 per contract at a strike price of $5.00. These contracts closed today at $0.05, registering a 50% loss.

On January 6th, 2009 we purchased a small number of the March 2009 Call Options (HLCZ) for $0.75 per contract at a strike price of $2.50. These contracts closed today at $0.39; once again we need to see some improvement to get this one out of the red.

Gold, Silver and the HUI all had slightly down days today, however, Hecla Mining did improve marginally by adding $0.09 for a gain of 3.63%, to close at $2.57. It should be noted that the Options do not always follow the stock price, one of the vagaries of this sort of trade. However on the positive side we noted on the above chart that the MACD finally managed a crossover today, so if we can get another day of improvement for Hecla then the stock should make progress and drag our options along with it.

We also need the underlying commodity, silver, to strengthen and lift the whole of silver producing sector. We have until March before these options expire, however you may want to cut your losses as this trade is sitting negative territory. For now we will hold and sweat a little more.

Have a sparkling week.

Stay tuned for updates in this fast moving market…

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