Yesterday’s “volatility pop” candidate” was today’s star. (November 01, 2012)
PAAS SLV
Good evening I’m Dan Fitzpatrick at StockMarketMentor and OptionMarketMentor.com. By the way if you haven’t tried Option Market Mentor, not really sure why. It cost you a big whopping $7.77 for a month and we’ll even give you your money back if you don’t like it, so there’s really no reason not to; you probably paid more than that in commissions on just one trade today; hopefully that trade was Pan American Silver ( $PASS Pan American Silver Corp ). I’ve been mentioning yesterday that you want to watch this stock, you want to watch it for a potential break out and certainly that’s what we got. By the way the stock traded 2.4 million today. I did not move this stock, not all it was just ready to happen. So what are you going to do now? If you missed this move I don’t think it’s too late to take it because this is a squeeze. Typically when you see stocks make a big move for a couple days they’re closing outside the upper Bollinger Band, it’s really, really risky to buy them. But when the Bollinger Bands are really narrow, then it’s really not so risky to buy them because of the expanding nature of volatility. I’m actually talking about that in Houston this weekend at the “Invest Like a Monster” workshop. I know I’m going to see some of you there, hope to see more of you there. It’s always fun to do that stuff with Guy and John, unfortunately Pete’s not going to be there, he’s doing an ESPN thing on some football game, so I think Pete’s trying to do something that he can do and take advantage of his jock-like a nature and start talking about cover two defenses rather than, I think it’s cover two, whatever, I don’t know football, I know eleven guys on each side and a bunch of guys in striped shirts who typically get the calls wrong. But anyway Pete’s not going be there but a lot of folks will, including me and I hope you are too. With that said I want to stay long Pan American Silver ( $PASS Pan American Silver Corp ) for awhile, certainly into next week. Silver has not really been doing much at all, and this week makes me even more bullish on this because if silver does start picking up I think we should really see Pan American Silver ( $PASS Pan American Silver Corp ) go. Okay, that’s it. Listen members, I’ve got a lot of stuff for you over in the Strategy Session today so make sure you don’t blow that off. We’ve got one more trading day and there’s actually plenty to do if you want to make some money, so get over there now. Free Chart