In my post I argued that Silver Standard Resources (SSRI) and Pan American Silver (PAAS) stood above the rest in terms of their balance sheet and their corresponding ability to whether the storm. These were the only two companies I analyzed that were both trading below a 1.0x price-to-book value AND had significant net cash per share.
In today's post I want to follow up a bit and focus on SSRI from a technical standpoint and see what the charts are telling us. The fundamental picture remains the same from a month ago.
Compare this to the action we're seeing in 2014. Coincidentally, SSRI collapsed in October and, three weeks into the month, it appears that November will show a similar V-Bottom reversal. If the analog to 2008 holds, then we should expect significant gains in the months ahead. I would also argue that the macro economic / geo-political backdrop today is far more favorable for silver (and gold) thus adding rocket fuel to the potential upside.