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Silver Wheaton Corp. Message Board

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  • chemaes44 chemaes44 Jan 12, 2006 8:17 AM Flag

    A good addition to my portfolio?

    Rich,

    I'm in agreement with couplover. I believe your suggestion was not to buy now because the price may be high. A couple of perspectives:

    Normal overbought signals using MACD, Stoch, RSI, money flow or directional can be rendered redundant in classical bull settings because the overbought signal can be just flatly bulldozed over to higher levels with a gold bull.

    From a technical perspective we have seen gold consolidate in the $540 /oz range since Friday and the more days it closes in that range the stronger the signal will be that it is getting ready to explode with 5 to 10 % follow through $550. From Friday to now that is 5 straight closes in the $540 range- classical consolidation. Silver will follow suite with an explosion up or down. Which way? we do not know but do not just rely on the technical signals.

    If you are charting where we are in the current channel, we are near the top, but what if the price breaks through the upper channel limit and now this becomes support??

    I could tell you what my feeling is but what does feeling have to do with good trading?

    Chemaes

 
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