Thursday, March 21, 2013


Another miner I keep looking at is Alexco (AXU).  I keep looking at it because it seems like it also has a nice tradeable range going on right now.  Below $3.50, there is good support and has been for almost a year now.  It would be nice to see it get there again.  The 50, 200, and upper BB are all providing overhead resistance, but it wasn't an issue a month and a half ago, although it does appear to be the profit-taking catalyst for the most recent top earlier this month.  I haven't bought it yet, but I'm going to try this time if it can tag $3.50.

As for Alexco's fundamentals, the company is in Canada and claim to be Canada's only primary silver producer.  Their resources look good (, more indicated than inferred.  I sort of see their weakness being the same as Silver Wheaton's, i.e., they will catch a sustained bid when silver does.  Until then, I'll monitor the $3.50 level and look out for more good news, such as their recent press releases about the Birmingham and Flame & Moth sites:  Overall, I still like this company, especially in the current (cheap) environment for the miners.

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