Cover your shorts on Apex Silver (SIL)
Today's Financial News - Posted October 28, 2008
Take 29%-34% short gains on Apex Silver (AMEX:SIL)
by J. Christoph Amberger
Baltimore — (TFN): Unless your trailing stop kicked in yesterday at $1.20, today’s the day to cover your short position of Apex Silver (AMEX:SIL). Based on our entry price of $1.70, our $1.20 exit price would have generated of 29.4% in 7 trading days. If you didn’t pay attention to the markets yesterday (I for one, was instructing 75 fourth-graders in the use of the atlatl, for their “Native American” studies unit), today’s the day to get out of this position.
Currently trading at $1.11, you’d walk away with 34% short gains on this losing silver miner.
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