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Silver Wheaton Corp. Message Board

  • tobinator00 tobinator00 Aug 17, 2005 6:32 PM Flag

    SLW Chart and Accumulation

    It appears to me that SLW is undergoing strong accumulation. The stock has been exceptionally strong recently relative to its peers (and silver).

    http://stockcharts.com/def/servlet/SC.web?c=SLW.TO,uu[h,a]dacayyay[dc][pb50!b200 !f][vc60][iLh14,3!Lb14]&pref=G

    The US market seems to be wagging the Canadian dog. A price surge in the stock in the US a few days ago, caused SLW Canada to react. I just wish the warrants would catch a bid.

    Dan Norcini, a veteran futures trader often featured on Sinclair's website, has said the funds have been getting more short on silver. Their presence has held the price down lately. He expects a short covering rally to occur soon. Dan had an excellent article about 10 days ago where the silver COT structure is the most bullish since when silver was $4.20/ounce. That rally caused silver going up $1 in two months followed by a surge up over $8 a year later.

    One can only hope.

 
SLW
21.499-0.341(-1.56%)11:14 AMEST

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