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Silver Wheaton Corp. Message Board

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  • reticiiz reticiiz May 30, 2008 10:00 AM Flag

    SLW is about to explode.

    Seems like you're a new investor into silver and gold market. We're in the correction phase and typically it lasts through August. If you're nervous about some small unrealized 5k loss then go and sell some covered july 17.50 call options. That way you can have a chance of getting out if slw moves to those level with a profit but if it doesn't at least you gain the premium however small over the next 2 months which will in theory bring down your initial investment purchase. Right now july slw 17.50 call options go for 20 cents. Otherwise sit back and don't look at the screen until end of August, after the Olympics. One other thing to remember stock market is a gamble, physical gold and silver may move higher but if the markets are crashing PM stocks will be crashed initially as well.

    This type of swings in PM market have been happening for at least the last 5 years that I've been into PMs so don't sweat it, gold will see 1000 again but IMO after the Olympics.

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    • There is no need to make smart aleck remarks about a fellow investor (even if it makes you feel smart, phuloi1965 ). We all live and learn.

      I can understand grp777's frustration. I have been investing in metals mining stocks for a few years and one thing I learned is this is not a buy-and-hold market. Although gold and silver has moved up significantly in the last few years, it moves up in a zigzag fashion, one step up and 2 steps down, so to speak. The mining stocks, esp. gold stocks, have appeared to not keep up with gold's rise. Manipulation could be part of the reason.

      I believe you have to have to patience, a lot of it. Do not put all your money in at once. Buy on dips.

      A fellow poster ( I thank him very much) on the GG board told me about silver wheaton in 9/06. I did my dd and bought some at just under 11. In February, when SLW was being sold by GG, I bought more at 15. In April when SLW dropped a lot , I added more at 12.98. I do believe this is a winner long term.

      I was about to buy more at about 14, but with my luck, it is going up now!

      Grp777, I would buy more if SLW goes down and I wouldn't sell at 16.61. This stock has a lot more upside. Be patient and don't do quick trading.

      • 2 Replies to landing1099
      • At the time of the purchase of SLW, I just started trading and didn't know much. I sure learned quick the last 6 weeks! It was a foolish move and it will never happen again. For the last month I have been playing on the dips with alot less invested like 2 or 3K with each stock. SLW was more than 10 times that. It is the only stock left in my portfolio and I can wait till September andI hope it does explode, because I'm sick of looking at the red loss area, it's very depressing. But in the last month I did play alot of dips in gold and oil and made some good money, but sold off everything but SLW by last Thursday when gold and oil peaked. So now I'm waiting for a bottom. I thought today might be a bottom, but I feel next week's actions will tell me more if oil is going to 115-120 by late next week? The dollar has strengthened this week and will likely continue for a while before going under 72 again like it was last week. This was indeed a hard lesson to learn, however no loss has been taken and hopefully SLW will hit 17+ by October?

      • <it moves up in a zigzag fashion, one step up and 2 steps down, so to speak>

        5 steps up and 4 down

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