Four weeks ago the price of SLW closed at $7.30 so when we put that into perspective it appears SLW is doing just fine. Lets not get too far ahead of ourselves here. We are up almost 20% from there even after the correction. If we go back 8 weeks we were at $6. A 40% jump from there to here. A little backing and filling is normal and welcomed action. The sky is not falling and all is well unless we break below the 50DMA at $6.94. I do not see that happening since it has never happened since SLW had a 50 DMA. We may get close though since SLW is always above 50 DMA but within 10 %- 15 % of it. Right now SLW is more than 25% above its 50DMA. Kind of overstretched although it has been higher. SLW went as much as 35%+ above 50 DMA at times. However it always comes down to support.
The really good news I see here is two fold. SLW has on several occasions broken through resistance before correcting and has almost never broken support and certainly never broke support by any significant % unlike the large % moves to the upside. That is very bullish action. The second thing I like ( and this is evil) is all those shorts we had here a couple of weeks ago and last week had the right move but the wrong timing. So they got hammered. Had they waited and started shorting last friday , when most of them gave up, they would have been in the money. Of course I am sure some of them will show up here soon to tell tales of their masterful timing and how they went short at $9.60 and sold at $8. LOL
<<<How about Prescott Bush funding the Nazis?>>>
Hummmmmm...Baron Von Tyson and the Union Bank and Trust.
Hey Guys, this has been fun, but damn, wasn't trying to get a fight started!!! We, SLW investors, have had trying times these past 3 days.
Guess though we were do some fun!!!
There is no shortage of hideous egregious behavior from the affluent , entitled rich in this or any other country where such a class of people exists. It is not so much what their politics is that has anything to do with it. I mean should I post the link to the stories of Laura Bush and her ex-boyfriends death? How about Prescott Bush funding the Nazis? Unfortunately money and power makes for different sets of rules . How come Joe Kennedy is a hero and Al Capone is a criminal?