Silver Wheaton Corp. Message Board
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SLW tech analysis
I have been doing quite a bit of Tech Analysis on SLW, Silver, Gold, and the dollar...as well as some other PM stocks.
Tomorrow I expect the dollar to fall and Oil Gold and Silver to go up.
If you take a quick look at the B Bands and 20 DMA you can clearly see SLW is about to make a stong move (not trying to predict up or down). However, RSI on monday/today bounced off the 50% line and came back up today almost to 52%.
Silver spot price seems to be holding up stong these last few weeks (in relation to the dollar rally and gold falling).
I currently hold some shares and some 7.50 Jan calls (which will probably be worthless). However, if we can get above $6 tomorrow and/or end above $6 this week I will jump into some Feb 7.50 calls and try to have some better luck there.
I don't want to base the future on history but SLW looks a lot like early Jan 2006 for anyone interested at taking a look at the 4 year chart.
A good trade would be to pick up some shares now and sell them when SLW hits 8.50 - 9 (when the RSI gets around 73%-75%). I would expect that in the next 5-9 business days. If I am wrong and SLW falls to support around the 50 DMA ($5) pick up some more shares. Thats my plan anyways.
keep it real
I am new to yahoo message board postings, however I have been reading these SLW posts for about 2 months now. Thought I would join in on the fun.This topic is deleted.-
Gold and silver stocks have declined every thursday before options expirateion for at least a year. People should expect them to drop before options expire.
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Stay the course. Still short waiting for the deep plunge into the 4's.
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All good points. However, there is one factor missing in the analysis, which shortseller will agree: G-R-A-V-I-T-Y
Price action is showing downside in the short term.- 1 Reply to vkokx
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how about into 2013?
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absurd. The world is as close to Depression as it can get, printing money like there's no tomorrow, spouting ETF in specie to sift paper currency AWAY from physical, and the COMEX is the longest running PONZI scheme ever, so to expect a metal play for a metal that relies 1/2 on industrial usage to blow up three dollars is a pipe dream.
Good luck. All the tea leaves in the world can't change that prognosis.- 1 Reply to yourdeadmeat69
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If UBS was smart, they'd fire all their analysts and hire you. Thanks for the expert advice.
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77,
Thanks for your insight...and welcome to the board. -
Thanks for posting with thought and $8.5-$9 in 5 -9 bus days is an exclamation point worthy prediction:) Yes, the board is entertaining. GLTA
- 1 Reply to natbrown7
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Are we talking USD $8-9 or the value in Canadian?
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Im short SLW from $5.53 due to Monday's commidity break down. Im still short after today since we didnt touch my $6 exit plan. Looking for downside to the $3.XX range.
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