Wednesday, January 11, 2012

WHAT THE HELL HAPPENED?




Hecla mining a 120 year old mining company just fell flat on its face. You can analyze the reason for an over 25% intraday drubbing but it really just boils down to technical damage and reaching the expected beatdown level of 4.50. It did overshoot intraday but closed well above it on the daily....4.61. Will it hold? Maybe. Who knows? So they closed a mine....the Silver Shaft at the Lucky Friday Mine, which has been closed since a rock burst in December, will be closed to remove built-up material in the shaft. Production at the mine is expected to resume in early 2013. As a result of the news, management lowered 2012 silver production estimates to 7 million ounces from 9.5 million ounces. So they lose a couple of million ounces of silver......IT AINT GOIN NOWHERE FOLKS!! What's next? My guess is that couple my expected pullback for the miners and this news and we could see a sub-3 price on HL withing the next few months. Did I buy today? Why yes I did...will I hold ALL the shares I bought? Maybe....I won't sell for a loss and if they don't make a trader for me I'll gladly hold and add depending on the charts and the overall miner and PM sector. Gotta take your licks and you can't predict these shenanigans in the PM mining sector. If you are holding then just realize you are still an investor and that time is on your side....eventually. If silver does move up this year you can bet that HL will start moving WAY before the Lucky mine reopens. I put up a weekly 6 year chart on HL for you to peruse...

Apologize for the comments section malfunction....I'm sure that it is "temporary"....hopefully it will allow comments to be put up today If you delete browsing history you can overide to do and view comments....


http://finance.yahoo.com/news/Feds-order-closure-accident-apf-665838406.html?x=0


















11 comments:

  1. as elvis once said....."thank ya very much"....sold out of a pile of HL i bot yesterday..will let some ride with my core

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  2. nice on HL

    ....gbg going to fill that gap. same with gpl...Nice call at 1298. I have been short for 2 days already...should be an interesting game. here.

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  3. sheeps I still like us to take out 1300 if 1282 holds

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  4. General market looks like dragging out the distribution as long as possible.

    Will wait for the piercing of the 2nd green line if it happens for HL.

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  5. FCEL needs to hold this dollar level.

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  6. Happy New Year All,

    re: HL - I'll settle for somewhere in between the green lines.......

    Posting from the droid

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  7. This comment has been removed by the author.

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  8. Happy New Year All,

    re: HL - I'll settle for somewhere in between the green lines.......

    Posting from the droid

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  9. this is today....so far

    United States
    496
    Netherlands
    13
    United Kingdom
    11
    Russia
    7
    Canada
    5
    Switzerland
    5
    Philippines
    5
    Sweden
    5
    Brazil they have more below

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