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Silver Wheaton Corp. Message Board

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  • jorgef176 jorgef176 Jun 21, 2007 1:34 PM Flag

    I'M DONE WITH PM STOCKS

    This stuff is not for trading. Its buy and hold for the long term. You have to have an iron stomach. Take for instance today. The market should be all rights be tanking heavily based on the economic news. But after it was evident the market was going to go down, someone stepping into the futures market and foced a turn around. "The invisible hand"? Who knows. But it should be doing bad and its up. The dollar is being supported despite all logic. Thus its bad for gold and silver today thus the downturn on SLW. Buy and hold PM's and don't look at them on a daily basis or you will go nuts.

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    • PMs are excellent for swing trading. They're good long term as well but better for short term trades. SLW looks like it's trying to take out highs and it's been hanging in there quite well despite the weakness in PMs.

      As for USD, well it's hard to say why it's moving higher when it should be falling. Possible that it's being propped up by other CBs or that it came close to all time low and bounced. Could be that other CBs are inflating their currencies which is another problem that might occur. If Euro moves too high they will start printing paper to lower it's worth and thus USD might gain some. With time PMs should move on their own but that will still take some time.

 
SLW
20.45-0.30(-1.45%)Dec 19 4:10 PMEST

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