PAA, Pan American Silver

PAA feb 2014 bpaa feb 21 2014 s

See previous blogs, we got this one nailed perfectly from the $42 high to the $10 low (at which time we did not bother to look). The big picture shows how these structures should develop, they are not always perfect and indeed this one could have gone a little lower. In any event a 5 wave wave C appears to be complete at the Oct. low around $10,. We had the breakout and the stock is just rocketing up with one or two gaps. It is up 70% in four months and looks a bit overbought at this point but the first target is still a lot higher at $22.50 wave 4 of prev. degr. We do not know if a wave 2 to about $13.5 comes first.