Apex Silver (SIL) shares are falling… for 20%-plus in short gains for TFN readers
Today's Financial News - Posted October 23, 2008
Apex Silver Mines (AMEX:SIL) isn’t bankrupt yet… but its share price is falling!
by J. Christoph Amberger
****OCTOBER 24 UPDATE: Click here for the latest!
Baltimore — (TFN): On October 15, I posted a research report on Apex Silver (AMEX:SIL), speculating “Could Apex Silver Mines Ltd. (SIL) go bankrupt?”.
They haven’t gone bankrupt, but their share price sure is plummeting. When we published our article on Oct. 15, their stock was trading at $1.56. Today, it dipped as low as $1.18… and has recovered to just above $1.20 as I am writing.
Given the pressure on precious metals by falling oil prices, I think there’s a bit more in it for us than the 20-some percent short gains readers could’ve chalked up had they but listened to our sage advice. But the commodities market at this point is so volatile, I’d cover those shorts whenever my spreadsheets show a 25% gain (on the short side, of course!)
To stay abreast of the markets and our recommendations, I urge you to sign up to our free email letter — you can do so right here…
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