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.
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.