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Silver Wheaton Corp. Message Board

  • seasonedspec seasonedspec Apr 18, 2009 11:53 PM Flag

    Is The Trend Your Friend?

    How many here recall when SLW was trading close to $20 back in March of 08? Although we can now buy it for a fraction of that price, why buy it as long as it continues to head lower? But will it? I've heard many arguments for and against a higher move at this time. So I will wait, and watch the direction of gold spot price as it is closely linked to that of silver. Meanwhile, my money is now invested in other market sectors that are now experiencing a strong price recovery. SLW will be moving much higher in the future, but that doesn't mean that it will begin on Monday. Currently, money invested in SLW is dead money IMO. Buying on weakness makes little sense to me as long as the stock price is drifting lower. I'll be reinvesting in SLW again, but not while it's current trend is negative. Is the trend your friend, or are you now fighting it? SS

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    • Hey, SS, I believe in this climate, the trend is rotating, meaning there's no fixed direction. Just look at the metal market, they dominate for a while, then it goes to dow, and I bet dow's life span will have a limit then it will go back to gold, and with some other sectors in between. I often wonder with more small players like us moving around like this, what kind of effect it will be to the big players? I don't know well enough to imagine the big picture. I surely hope that we can mess up their plan.

      First thing in the morning I look at kitco price. I must say I'm happy that I am right about the resistance of 870 for gold. Most metals are up. And I am happy that I can thumb my nose at those who spread fear about gold going down to 850 and much lower. Good trader knows it goes in waves and there's always room for a little rise.

      But I also like to plant seed for big future. I do think SWC is heavily manipulated like no other. And it really got my stubbornness up. I trade with it and also play long term. But last night I saw the 60 minutes report about cold fusion, and that's exciting. Then it's not about trend, it's about belief.

      Good luck to us all.

    • Excellent post. That is why I only post here. If someone wants to get sick go to the HAL, GE or WFC sites or many others. They don't have a clue about the true of your message.

    • Hi, SS, do you know where the market headed tomorrow?

      At this point, I couldn't get a feeling. We are at a stalemate. Price of gold held between 870 and 900 for a long time, and I thought it's doing well untill it caved in last thursday or so. You'd thought the down momentum will last for a little while. But remember how ressiliant POG was? So many predicted to 850 for a long time and it always bounced back at around 870? And the bounce happened fast and furious. One has to ask oneself again: what does one really believes.


      I guess I don't know where the trend goes, but I know when it's working against you, you just need to hold on and wait for your moment. Never panic. Specially most stocks are at the bottom, how low can they go?

      • 1 Reply to shenjee
      • Problem is that this one hit 2 1/2 not too long ago because of hedgies. No investigations and no changes, so are they done? Who are they and why do they control the silver market? How and why are they able to do it? Will they do it again? Nobody seems to mention it much anymore. Is there any more transparency of what the hedge funds own and control? How about the Comex? ETFs. My guess is there is not enough silver to cover all bets, but they have a way of going down to fix that problem conveniently. I can only hope someone puts back some honestly into precious metals and allows them to trade up to where they should have already traded to. I think I just ranted. Sorry.

 
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