I'm kickin myself for selling SLW @ 10.... I still made a profit.. but I don't think we'll see under 10 again.. Anybody think they'll be another chance to get in under 10? Thanks..
"DJ Silver Wheaton To Sell 14.6M Shrs At C$12 Each >SLW
Silver Wheaton Corp. (SLW) has entered into an agreement with underwriters for the bought-deal sale of 14.6 million common shares at C$12.00 a share, for gross proceeds of about C$175 million (US$150 million).
The underwriters will have the option to boost the offering by up to 14% more shares at the same price.
The Vancouver mining company plans to use proceeds of this financing to pay US$40 million due to Glencore International AG under a promissory note, and to repay bank debt associated with its recent silver acquisition from Glencore.
According to the TSX Web site, the company had 183.9 million shares outstanding as of Friday.
Absolutely, there will be a correction and pullback, and consolidation after this runup loses momentum. That is the normal cycle before the next run to $15 or $20. The chart indicate we could see $9 maybe $8 if there is a PM pullback , combined with profit taking which is normal and a general market correction. All of this would be normal.
I sold all of by CDE this morning which was meant to be a max. 4 month holding and cleared just about 50% in two months. Probably see CDE go up more. So what? It too will have a pull back and I'll buy in later.
I sold some of my Sept calls today at over 300% profit - very sweet, and sold the trading portion of my SLW holding at something like 500% from the old WHT days.
SLW will probably go up some more but I'm not greedy, these profits are fine and I still hold my core position. When SLW pulls back I'll buy another trading position.
Every portfolio should have SLW as at least one of its core holdings.
Well, I was right but forgot dilution as another reason why SLW will retrace from time-to-time as financing requires to obtain more silver while it is still cheap.
Save almos .50 cent s share and another .30 a contact on the calls. My sell was right on target for this time.
There will be a PM pull back coming up. If you ave patience buy 1/3 now, buy 1/3 of your position, if it drops tomorrow morning, and wait a few months to buy the final third during the next correction.
The stock market in general is way over bought. When it takes a big hit soon - ALL stocks will fall even PM stocks like SLW, first, and then recover a lot quicker that the overall market.
I like the early '07 puts on the QQQQ and DOW right now.
Regarding SLW, I saved more than $8,000 buy selling on Friday. So you wimp lilly that didn't like this post originally, heres your chance to make some more stupid commonts
Absolutely, there will be a correction and pullback, and consolidation after this runup loses momentum.<<<<<<<<<<< When, in July? Don,t sell into a long term Bull market. When you buy back in its going to cost you all your Profits and the Brokers will be making the $bucks. Selling at 11 and buying back in 15 doesn,t make too much sense.
Under $10 is quite possible. A lot of money flowed into SLW in the last few days that can just as easily flow out if we get signs of weakness. We are moving a bit off the 20 day MA so if we retrace a bit we could go under $10. I think it is quite frothy.
However, with the move over $10 the stock is now available to some funds that have that as a lower limit on price. This takes some shares off the market.
I did the same thing and sold all my PM stocks on Monday.
Two things worry me:
1) IMHO the overall market is due for a major correction
2) Everybody assumes silver is going to sky rocket. Usually a 100% opinion in one direction is nearly always wrong.
I'm not going to chase PM's up. I think that for the reasons above we may see a dip.
However, I might just be a dumb
You say everyone thinks silver is going to skyrocket. The average investor has no clue yet that silver has broken out to 22-year highs. There are millions of potential buyers still out there.
As a silver investor, you may be missing the big picture and the big payoff.
lol... well I hope for my sake and yours, you are not just a dumb
Congrats to all the longs though! (especially the ones who had more patience than me!) It's paying off!
no. eat your heart out. :o)
terrible to ring register and then want right back in. done it hundreds of times. :o)
as long as your goals were met, why sweat it?
only reason ever to get back in is if there's plenty of run left. jimho dyodd
You're right.. I made some money so I cant complain too much... I actually moved my SLW into CWPC so it's actually done well.. I'm just pissed I didn't hang onto SLW longer... oh well.. ya win some and lose some...