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Silver Wheaton Corp. Message Board

  • chemaes44 chemaes44 Nov 4, 2008 10:54 AM Flag

    Buy signs appearing

    TSX composite index went above 9600.

    The US dollar index is teetering on the support line around 85 to 84.5.

    The HUI is pressing right up against resistance.

    Gold is above 750 to 740 resistance.

    SLW canadian is above the $5 resistance set back in 2004.

    Bonds have fallen, but only slightly through support.

    I bought a couple thousand B warrants and some shares today. We'll see if its another head fake

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    • northern_illinois_university northern_illinois_university Nov 7, 2008 7:51 PM Flag

      since the 4th this stock didint do anything except go down.

    • chemaes,

      thanks again and yes I'm familiar with & use MACD/RSI along with Wms.% & slow stoch. I just don't know what to make of a day where the volume is unusually high but the price barely moves.
      I guess the best explanation is there are a lot of investors sharing the opinion that this thing is ready for a significant move, but differ in which direction that will be.

    • Tom, man, It's just weird, the markets are so screwed that technicals may not make sense. I had thought there would be some calmness after the election for a little while at least.

      Anyways, to what you asked..This will be symantics but the price remains "flat" so to speak to me when it stays within its (1)volatilty price range and (2)above its moving average, in this case 5 to 7 days.

      slw met the first criteria for me but not the second which suggests sell. The thing is, I'm taking a gut gamble and trading on the USD index, silver & gold price which do not say sell, yet.

      I am gutting it out because of what some might call gibberish, but (1) USD dollar index negative MACD cross 3 days ago on short term charts (6 mth and less)means a break down(2) USD RSI break down below trendline on short term charts (6 mth less) means break down (3)silver breaks above RSI trendline and positive MACD cross 7 days ago and lastly (4) gold breaking above RSI horizontal trend resistance on short term charts with MACD getting ready to cross today.

      I use a lot of stuff that I haven't mentioned here, but when I read technical discussions must folks are familiar with RSI and MACD. The point: USD dollar signaled break down, and gold and silver are signaling upward rise still.

      So, I gamble and wait because I believe any correction in SLW is like a short term test of the bottom made 7 days ago. my cost average over seven days still has me positive on this trade and I'm set for 2% stop loss off previous bottom.

      Good trading
      Chemaes

    • I meant to include flat price & high volume.

    • What do you make of the volume today in SLW? It seems everyday the water just gets muddier. TIA

    • This move today was very interesting but hasn't negated the breakout of silver and gold, yet.

      In fact, you might be able to look at gold and silver and give thanks they haven't shot straight up. The longer they build a base after seemingly breaking the downtrend, the better!

      The dollar is still within its channel.

      The next few days will be very interesting indeed.

      we wait and see

    • Hi nxs, technicals haven't exactly meant very much these last couple of months but, if you look closely enough at the charts some indicators are stronger than others and I've learned just follow them, don't question them. Yes, the dollar looks a little scary, looking like it might go up but, both gold and said "we are going higher". If you check the thread, I wasn't saying silver would move without gold. I indicated silver confirming with gold.

      Trader.will, is bang on with his assessement of the dollar.

      I too, am looking for gold above $750.

      Final comment on dollar: I theorize that since forex moves on such massive leverage, if the direction changes, that same massive leverage that brought the dollar up so quickly, will also quickly want to move it down pips and all, which is forex speak

      Good trading
      chemaes.

    • Hour by hour, gold traders are wanting the uptrend to continue past the $750 resistance.

      http://i38.tinypic.com/2nq43km.jpg

    • I see gold trading between $730 and $760 for a day to day analysis.

      http://i37.tinypic.com/2ldqnn.jpg

    • Dead,

      don't look now, but that "Euro flea" cut rates by 1.5%. I think they've just put your arguement (which I basically agree with) into overdrive.
      The weakness in US & European economies is setting the stage for China & India to recover quicker. Lower oil prices, cheaper construction materials, etc. will only act as a shot in their arms.
      Russia has me quite concerned. Their little escapade in Georgia is only a hint of what is to come. Watch for them to test Obama early in his term as tensions over Poland are increasing, their economy is reeling and they make a move toward "pipeline country" & cheaper oil supplies. The Russian Bear is waking from it's 20 yr. hybernation hungry & grumpy.

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SLW
22.25-0.24(-1.07%)Sep 18 4:03 PMEDT

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